Monthly transaction volume through cryptocurrency cards exceeded $747 million in May 2026, with growth in the segment significantly outpacing the expansion of the stablecoin market.
Since the beginning of 2026, crypto card transaction volume has increased by 48.6%, while the total stablecoin supply grew by just 3.2%. By the end of May, cumulative transaction volume generated through crypto cards approached $8 billion, according to a report by Binance Research. Analysts said stablecoins are increasingly being used not only as a store of value or collateral asset, but also as a full-fledged payment instrument.
The study found that the distribution of crypto card payments differs substantially from the allocation of stablecoin supply across blockchain networks:
- Ethereum accounts for approximately 53% of all issued stablecoins, yet represents only 12% of card payment volume.
- BNB Chain generates roughly 14% of payment volume despite holding about 5% of stablecoin supply.
- Solana accounts for 12% of payment activity while representing approximately 5% of supply.
- TRON remains the only major network where stablecoin supply and payment activity remain broadly aligned, at 28% and 32%, respectively.
According to the report, about 97% of global crypto card transaction volume is processed through Visa’s infrastructure, while Mastercard accounts for just 3%. Among issuers, RedotPay led the market with approximately 59% of monthly transaction volume. Demand for these products remains concentrated in emerging markets.
Binance Research analysts said crypto payment infrastructure is gradually developing its own economic ecosystem, becoming less dependent on stablecoin issuance volumes and increasingly driven by real-world consumer use of digital assets.
For reference, monthly crypto card transaction volume exceeded $600 million in March 2026. Compared with May 2025, monthly transaction volume across cryptocurrency debit and credit cards increased by 230%.
Binance Research noted that growth in the payments segment occurred against a mixed backdrop for the broader crypto market. In May, the total digital asset market capitalization declined 3.3% to $2.55 trillion, while investors withdrew $1.1 billion from spot Bitcoin ETFs.
At the same time, several segments of the crypto market continued to post rapid growth. The tokenized real-world asset (RWA) sector expanded by approximately 589% since the beginning of 2025, with the value of such assets reaching $31.8 billion. Notably, by the end of the first quarter of 2026, the market capitalization of the RWA sector, excluding stablecoins, stood at $19.3 billion.
