Spending on these cards came to $1.04 billion in July thanks to dollar-backed stablecoins and more people purchasing everyday items like groceries, CoinDesk reported Sunday (Aug. 23).

Dollar-backed stablecoins were behind 70% of the more than 10 million tracked transactions, the report said, citing Paymentscan data. USDC accounted for half of that volume, with Tether’s USDT making up 20.3%, compared to around 48% and 7%, respectively, a year earlier.

The report said this growth indicates a crucial shift in consumer stablecoin use, as the tokens become popular as a way to hold digital dollars and make cross-border…