USDC Leads Crypto Card Top-Ups as Stablecoins Hit $13.8B
Cumulative stablecoin card top-ups reached $13.8 billion by August 2026, with USDC the largest tracked funding source and USDT gaining share of everyday spending.
By August 2026 cumulative stablecoin card top-ups reached $13.8 billion, up by nearly $10 billion over the prior 12 months, according to Cryptorank data. Monthly spending on crypto cards has continued to grow even during weaker periods for the broader crypto market.
USDC accounted for the largest share of tracked card top-ups, while USDT increased its share of card-funded transactions. USDT remains the largest stablecoin by outstanding supply, but card spending shows a different distribution between the two tokens.
Settlement of card-funded transactions is spread across multiple blockchains. Cryptorank’s tracked volumes show Base leading with roughly $1.2 billion, followed by Solana at about $635 million, Polygon near $544 million and Optimism around $509 million. Arbitrum, Scroll, Ethereum and Stellar also recorded meaningful volumes.
Most crypto card programs continue to use existing payment infrastructure. Transactions rely on payment processors, regulated issuing banks, identity verification and card networks such as Visa and Mastercard to reach merchants. The conversion from a stablecoin balance into a card payment happens before the transaction reaches the checkout terminal, through custody arrangements and conversion mechanics.
Competition among card providers centers on custody setups, foreign-exchange costs, rewards structures and capital efficiency. Some products let users borrow stablecoins against other crypto holdings rather than sell assets, effectively providing credit against collateral. Cashback and sign-up subsidies offered by some programs have been declining.
Currency denomination and FX handling matter for regional use. Euro-denominated stablecoins such as EURC can reduce conversion fees for users who otherwise spend dollar-pegged stablecoins in Europe. The tracked card-top-up pattern differs from traditional stablecoin uses like exchange settlement, trading and cross-border remittances by linking stored USDC and USDT balances directly to merchant payments while still operating on standard card rails.
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