Crypto Card Deposits Exceed $10 Billion, Up 82% YTD
Total crypto card deposits have crossed $10 billion for the first time, with year-to-date growth of 82% and a nearly 250% increase year-over-year.
Total deposits into crypto-linked cards have topped $10 billion for the first time, according to data cited by The Kobeissi Letter. The milestone reflects an 82% year-to-date gain and a nearly 250% jump compared to the same period last year.
The surge is being driven by the rapid adoption of stablecoins as a payment method, particularly for cross-border transactions. On Wednesday, Visa, Mastercard, and a consortium of over 140 companies launched a new USD-pegged stablecoin called Open USD, which is expected to further accelerate this trend.
On-chain platform Jupiter Mobile has also contributed to adoption, reporting a 65% month-over-month increase in new card users. Growth has been supported by localized features such as QR-code payments and expanded accessibility across more than 60 countries.
Source: The Kobeissi Letter