Visa Sees a Boom in Crypto Card Payments
In 2025, spending through Visa crypto cards surged by 525 percent year over year, with EtherFi emerging as the clear market leader.
The use of crypto cards issued in partnership with Visa accelerated significantly in 2025. Data from Dune Analytics shows that total net spending rose by 525 percent compared with the previous year.
At the beginning of January, users of six crypto cards spent a combined USD 14.6 million. By the end of December, that figure had climbed to USD 91.3 million. The cards were launched by blockchain projects working in cooperation with Visa.
The analysis includes payment solutions such as GnosisPay and Cypher, as well as decentralized finance projects EtherFi, Avici Money, Exa App, and Moonwell.
The highest level of activity was recorded by the EtherFi-linked card, whose users spent USD 55.4 million. Cypher ranked second with USD 20.5 million in spending. The gap between the market leader and the rest of the field was clearly visible.
According to a researcher from the Polygon ecosystem, the data highlights the rapid adoption of crypto cards and the growing role of cryptocurrencies and stablecoins within Visa’s global payments network. The surge in spending suggests that cryptocurrencies are moving beyond the experimental phase and becoming tools for everyday transactions.
Visa has announced further expansion in this area. The company already supports stablecoins across four blockchains and continues to develop partnerships and infrastructure to make these assets more accessible to both retail and institutional clients. In mid-December, Visa also established a stablecoin advisory team to support banks, merchants, and fintech companies in implementing and managing such solutions.
When Visa first decided to enter the market for crypto cards designed for everyday payments, parts of the industry were highly skeptical. Cryptocurrencies were still seen primarily as investment instruments rather than practical means of payment. Today, however, the data clearly shows that this move was well judged. The rapid growth in spending via crypto cards confirms that the solution has found real-world use among consumers. This is particularly significant given that the technology is still in an early stage of adoption, with its full potential in everyday finance only beginning to emerge.
