In September, stablecoin-linked cards processed approximately $1.17 billion in transactions, a monthly record according to PaymentScan data. The cumulative total has reached $12.5 billion, but this figure includes all spending since tracking began, which artificially inflates the statistics. Three players dominate the market over thirty days: RedotPay ($401.9 million), Ether.fi ($127.4 million), and KAST ($113.1 million). At this pace, crypto cards handle roughly $14 billion per year, a negligible amount compared to the trillions processed by Visa and Mastercard over the same period. Active addresses slightly declined in September to 283,761 from 287,634 in August, though PaymentScan notes its counter remains incomplete as RedotPay, the largest program, does not publish its data.
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