Spending through Visa-issued cryptocurrency cards experienced explosive growth in 2025, with total net transaction volume surging by 525% over the year. According to data from Dune Analytics, net spend across six specific crypto cards issued in partnership with Visa climbed from $14.6 million in January to $91.3 million by the end of December. This dramatic increase signals a significant shift towards the everyday use of crypto-linked payment products for routine purchases.
The cards are offered by a mix of crypto payments platforms and decentralized finance (DeFi) projects, including GnosisPay, Cypher, EtherFi, Avici Money, Exa App, and Moonwell. Among this group, EtherFi's Visa-backed card led by a wide margin, recording $55.4 million in total annual spending. Cypher followed in second place with $20.5 million, while the remaining cards contributed smaller but steadily rising volumes.
Market observers interpret these figures as evidence of a fundamental change in how cryptocurrency users interact with their digital assets. Polygon researcher Alex Obchakevich noted on X that the data highlights "rapid user adoption and the strategic role crypto and stablecoins are playing within Visa’s broader payments ecosystem." He added that rising spend volumes suggest crypto is moving beyond experimentation toward routine financial use.
This trend is set against the backdrop of Visa's expanding commitment to cryptocurrency infrastructure. The payments giant now supports stablecoins across four blockchains and has intensified partnerships aimed at improving access for retail and institutional clients. In a key strategic move in mid-December 2025, Visa launched a dedicated stablecoin advisory team. This team is focused on helping banks, merchants, and fintech firms deploy and manage stablecoin-based products, underscoring Visa's view that blockchain-based settlement is becoming increasingly relevant to global payments.
Concurrently, stablecoin usage has reached record levels. Data indicates total stablecoin transaction volume has surpassed $2.5 trillion, with supply at an all-time high. Between June 2024 and June 2025, Tether's USDT processed over $1 trillion in transactions monthly, peaking at $1.14 trillion in January 2025. USDC also saw heavy usage, with monthly volumes ranging from $1.24 trillion to $3.29 trillion. The market is also seeing rapid growth among smaller tokens like EURC, PYUSD, and DAI, pointing to more specialized and geographically diverse use cases even as overall adoption accelerates.
