Stablecoin Market Sees Significant Growth in Payments and Credit

The stablecoin market has experienced a significant transformation in recent months, with $600 million in monthly crypto card payments and a $5.58 billion onchain credit market. This shift is driven by the increasing use of stablecoins as a means of everyday spending rather than just a speculative asset. The growth of onchain credit suggests that stablecoins are being used to finance real-world activities.

The data shows that crypto card transaction volumes have risen dramatically, with a 500% increase in eight months. This growth is not limited to one specific network, but is spread across several chains, including TRON and BNB Chain (BSC). The use of stablecoins for payments is becoming more widespread, with users choosing networks based on cost efficiency rather than narrative appeal.

The adoption of crypto cards is also being driven by traditional card infrastructure, with Visa representing around 90% of the market in the referenced dataset. This integration with existing rails suggests that stablecoin payment rails are becoming an integral part of mainstream finance. The growth of onchain credit is also significant, with a 22x increase in 2025 from $252 million to $5.58 billion.

The increasing use of stablecoins for payments and lending suggests that the market is shifting towards a more practical and cost-efficient approach. This shift has implications for both incumbent payment networks and traditional financial institutions. The growth of onchain credit also raises questions about scalability and risk management, as well as regulatory frameworks.