Crypto Payment Cards Had Their Best Month in August Across Volume, Transactions and Users

Stablecoin payment cards closed their best month in August, with volume, transactions and users all reaching new monthly highs. Crypto card spending hit $1.076 billion in August, making it the second consecutive month where volume has surpassed the $1 billion mark. Data from paymentscan.xyz also shows that transactions reached around 10.67 million, while addresses grew to over 283K from 261K the month prior. When we divide the volume by the number of transactions, this works out to an average purchase size of $100.80.

RedotPay took the lion’s share of the total volume with around $390.1 million processed in August or about 36% of the entire sector. When it comes to transactions, the share is much larger at over 6.34 million, or 54% of every swipe or tap tracked. The gap between these two numbers is noteworthy because when we do the math, RedotPay’s average purchase sits around $61.50, which is well below the sector average mentioned above. This points to routine spending rather than occasional large purchases. EtherFi and KAST remain in the second and third spot in monthly volume generated.

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