Spending on stablecoin-backed cards has jumped 105% to 106% over the past year, according to John Timoney, director of strategic partnerships at payments infrastructure platform Rain. The data was shared during a panel at Consensus Miami 2026, highlighting exponential adoption of this financial tool.
Rain, which recently became a Mastercard Principal Member, issues credit and prepaid cards that let users spend stablecoins like Tether (USDT) and USDC directly from digital wallets. The model does not replace traditional card networks but leverages them—connecting to hundreds of millions of merchants globally without requiring retailers to handle crypto settlement or volatility.
Stablecoin settlement offers operational advantages: it allows card programs to settle on weekends and holidays, cutting trapped capital by more than 40% in some cases. Traditional programs often pre-fund obligations when banking rails are closed, a constraint stablecoins bypass. This can improve issuer economics, reduce working-capital strain, and support richer rewards—especially in markets with inefficient banking infrastructure.
Latin America is one of the fastest-growing markets. Timoney noted that stablecoin cards could reach double-digit percentages of total cards in some countries, driven by demand for dollar-linked payment tools. Globally, however, stablecoin cards still account for less than 1% of total card spend, according to Consensys executive Ray Hernandez. Mainstream adoption will depend on easier on-ramps, local payment infrastructure, and seamless user experiences that hide blockchain complexity.
Mastercard executive Christian Rau emphasized that consumers expect a fast, safe, and familiar card experience, not an “on-chain payment.” Rain’s approach avoids reinventing the wheel—merchants accept cards as usual while stablecoin rails handle settlement behind the scenes. The debate at Consensus also touched on the role of card networks in providing chargebacks, merchant risk controls, and consumer protections that users already rely on.
