Stablecoin card spending on the Solana network reached a record $141.1 million in October, according to data from Paymentscan, marking the fourth consecutive monthly high. The figure is roughly seven times the approximately $20 million recorded in October last year and about 24% above September’s previous high.
Growth has accelerated throughout the year. Spending was around $44.5 million in January, meaning volumes have more than tripled in ten months. Every month this year except June set a new high, with August crossing the $100 million mark for the first time.
The expansion remains concentrated. KAST, a stablecoin neobank, processed $100.4 million in October, while programs issued on Rain’s card infrastructure added another $31.66 million. Together KAST and Rain-issued cards accounted for 93% of total card spending on Solana. Avici contributed $2.28 million, Tria $1.84 million, other Bridge-issued programs $1.65 million, and Solayer $1.29 million. Wallet-native card spending remained small, with Phantom Cash, MetaMask, and Solflare together doing only about $2 million.
Across all chains, stablecoin card spending hit $938.2 million in October, putting the market within reach of $1 billion a month. Base led with $259.1 million, about 28% of the total. Optimism ranked second with $144.6 million, while Solana followed closely at $141.1 million, only $3.5 million behind Optimism. The three chains accounted for about 58% of all card spend. Arbitrum posted $86 million and Stellar $74 million, while Polygon and Plasma recorded $63.7 million and $49.5 million respectively.
Solana’s rapid rise leaves it within striking distance of Optimism, but its dependence on KAST is a notable concentration risk. If KAST volumes flatten or users move to another chain, Solana’s monthly total could drop sharply, since no other program on the network is close to filling that gap.
