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Stablecoin card spending hits $1.17B in September amid fewer transactions

Paymentscan tracked about $107 as the implied average transaction size in September, after recording 11.0 million transactions.

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Stablecoin-linked card spending accelerated to a record level in September, with Paymentscan tracking about $1.17 billion in spending through Sept. 30, already above August’s completed total and the highest monthly figure in its displayed series, according to CryptoSlate.

The data showed 11.0 million transactions in September, down from 11.07 million in August, while the implied average transaction size rose to about $107. Active addresses also fell to 283,761 from 287,634, though Paymentscan notes the measure is incomplete and that its counts are addresses rather than individual users.

CryptoSlate also reported that Visa’s crypto unit head Cuy Sheffield described stablecoin cards as being in “hyper growth mode.” Sheffield attributed the momentum to issuers increasingly connecting dollar-denominated tokens to existing card networks rather than waiting for merchants to accept crypto directly.

The coverage added that the growth continued even without an increase in payment frequency, and that Paymentscan’s counting framework leaves open the question of how much of September’s activity reflects reporting gaps, since RedotPay does not provide an active-address figure on the platform.

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