Global crypto card payment volume reached $1.5 billion per month in August, up from about $100 million per month in January 2023, Artemis said in a report released Thursday (Jan. 15).
These cards, which enable users to spend stablecoin and cryptocurrency balances at traditional merchants, have seen the greatest adoption in countries in which stablecoins “solve tangible problems,” Artemis, an institutional data platform for digital finance, said in the report. For example, Argentina presents an opportunity because the cards can be used for inflation hedging.
Stablecoin-backed cards are growing because they enable users to store value anywhere with stablecoins and spend it anywhere with the cards, according to the report.
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