USDT continues to dominate crypto card volume, consistent with its strong position in emerging markets across Southeast Asia, Latin America, and Africa. In these regions, crypto cards often serve as a practical alternative to limited traditional banking infrastructure.
However, USDC is steadily gaining market share. The shift is most noticeable in Western markets, where regulatory clarity and institutional backing make USDC more appealing to both card issuers and users.
The changing stablecoin mix on crypto cards serves as a useful proxy for geographic and demographic trends in adoption. A rising USDC share suggests the user base is expanding beyond Tether’s traditional strongholds into more regulated, developed economies.
Tether has indicated plans to launch a U.S.-focused stablecoin product. If successful, it could slow or even reverse USDC’s recent gains in Western markets.
The $600 million monthly volume milestone shows crypto cards are moving from niche to mainstream utility. While USDT still leads overall, the gradual rise of USDC points to a maturing, more geographically diverse user base. Continued growth will likely depend on further regulatory clarity and improvements in card acceptance networks.
