Crypto Card Spending Reaches $759 Million in July, Up 2.5 Times From a Year Earlier
Summary
- Spending on crypto payment cards totaled $759 million in July, up about 2.5 times from a year earlier.
- PaymentsScan data showed RedotPay drove the overall growth.
- Crypto card use is expanding in payments for goods and services, but it remains a niche market.
Forecast Trend Report by Period
Spending on cryptocurrency payment cards rose about 2.5 times from a year earlier in July.
Unfolded reported on August 18 that crypto payment card spending totaled $759 million in July, compared with about $306 million in the same month last year.
Data compiled from PaymentsScan's on-chain and card issuer data showed RedotPay drove the overall growth.
Crypto card use is expanding in payments for goods and services, but it remains a niche market compared with the traditional credit and debit card industry.
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