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USDC and USDT Now Own 84% of Crypto Card Spend as the Euro Retreats
USDC and USDT now account for about 84% of crypto card spending, overtaking euro‑denominated tokens that previously dominated the market.
Published:
Updated:
What happened
USDC and USDT now account for about 84% of crypto card spending, overtaking euro‑denominated tokens that previously dominated the market.
Confirmed
Global impact / market context
The dominance of dollar‑backed stablecoins means more transactions settle in USD, reducing currency‑exchange risk for merchants and users, and encouraging further adoption of crypto payment cards.
Analyst inference
The shift follows a surge in new crypto card programs and the adoption of settlement chains, which make it easier to use stablecoins for everyday purchases.
Confirmed
What to watch
- Launch of additional crypto card offerings that support other stablecoins could diversify spending away from USDC and USDT. Analyst inference
- Regulatory developments affecting stablecoin usage in payments may impact their share of card spend. Proposed
- Changes in settlement chain fees or performance could alter the cost advantage of using USDC and USDT on payment cards. Analyst inference
Affected assets
- USDC — USD Coin
- USDT — Tether