Visa Dominates On-Chain Card Payments as Crypto Spending Hits Record High

Visa has become the leading player in on-chain card payments, accounting for a whopping 90% of the market share. According to recent data from Paymentscan, total crypto card spending has reached a record high of $7.8 billion, representing a 230% increase since May.

The surge in stablecoin transactions has enabled users to make payments directly with cryptocurrencies without involving banks. This development has led to a significant increase in the number of crypto cards issued, with people able to use their stablecoins for everyday purchases at ordinary stores.