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Institution: Monthly crypto card spending rises to $600 million, more than 6 times year-over-year increase
BlockBeats News, May 3rd, Memento Research data shows that the monthly spending volume of cryptocurrency bank cards has risen to $600 million, a more than sixfold increase over the past year.
The report states that the total on-chain transaction volume completed through crypto cards has reached $7.2 billion, involving approximately 24 million transactions and 1.36 million wallet addresses. Among them, about 62.5% of transactions were completed using USDT; approximately $348 million worth of transactions occurred on the Solana network.
In addition, Jupiter’s Jupiter Global crypto card business has grown by over 660% month-over-month, with some cash-back rates reaching 4%-10%. The report also points out that about 90% of crypto card payments are ultimately settled through Visa.
Memento Research indicates that stablecoins are gradually becoming the underlying settlement infrastructure of the global consumer payment system.