Stablecoin card spending could reach $50B annually by 2028: RedotPay

Stablecoin card spending has crossed $10.9 billion in cumulative volume as RedotPay projected that annual spending through the products could quadruple to $50 billion by 2028.

RedotPay said in an Aug. 25 blog post that the industry recorded more than $1 billion in card spending during July for the first time, citing independent payments data provider Paymentscan, as usage continued to rise across markets in Latin America, Africa and Asia-Pacific.

The stablecoin payments company expects the industry to process its next $10 billion in eight months after taking roughly three years to reach the first $10 billion. By 2028, RedotPay expects stablecoin-powered cards to be handling $50 billion in annualized spending.

“When you consider that over $20 trillion will be spent this year on traditional cards, $50 billion per year no longer seems unattainable,” the company said.

Paymentscan data showed July 2026 as the largest month recorded for the sector. Its headline dataset put stablecoin card spending at about $1.04 billion during the month, compared with roughly $339 million in July 2025.

RedotPay attributed its forecast to its own operating data, adoption patterns in several developing markets, clearer rules for stablecoin businesses and increasing use of digital dollars for payments, remittances and foreign exchange services.

Stablecoin card spending has accelerated in 2026

Stablecoin cards connect cryptocurrency balances to existing card networks, allowing users to pay merchants while stablecoins or other digital assets are converted or settled through the infrastructure behind the transaction.

RedotPay said the products have moved from an experimental payment method toward regular consumer use. When the company launched its first card about three years ago, it estimated that the entire industry was processing around $60,000 each month. Current volumes can reach the same amount in roughly four minutes, according to its blog.

Jonathan Chan, RedotPay’s head of partnerships and co-founder, said the company was seeing demand from customers who use stablecoins to handle ordinary financial needs instead of cryptocurrency trading.

“Stablecoin-powered cards have reached their mainstream moment, hitting all-time highs in spending volume on the strength of their utility in daily life,” Chan said.

“Our users are not necessarily crypto traders. They are people who found a better way to manage their finances because the previous options they had weren’t good enough. This is where the growth will come from.”

The company pointed to customers using the cards for expenses such as groceries, subscriptions, travel and rent across more than 100 countries. RedotPay also cited examples of users who need access to international digital services, mobile wallets or dollar-denominated balances where local banking products do not provide the same options.

Consumer card products have also become a larger part of RedotPay’s own business. In July, crypto.news previously reported that the company had launched an XRP Ledger-powered product allowing customers to pledge XRP as collateral and access a credit line settled in Ripple USD.

The product uses a 50% loan-to-value ratio and allows the borrowed value to be spent through Visa merchants while customers retain exposure to their pledged XRP. At the time, RedotPay reported more than 8 million users in over 100 countries and roughly $12 billion in annualized payment volume.

RedotPay now puts its annualized payment volume at approximately $14 billion and annualized revenue at more than $180 million. The company said it has built a profitable business while expanding its stablecoin payment services.

Clearer rules and better products are supporting card use

Explaining the increase in card activity, RedotPay identified regulatory developments as one of the factors that have made consumers and payment companies more willing to use stablecoin-based services.

The company said clearer requirements in important markets have given established operators a more defined framework for licensing and compliance while giving potential customers more confidence in stablecoin products.

Product improvements have played a role as well, according to RedotPay. Interfaces have become easier to use, fiat-to-crypto and crypto-to-fiat services have expanded their coverage, conversion pricing has improved and customer support has become more developed.

RedotPay expects fast-growing payment companies to spend more on licenses and compliance as transaction volumes rise. It also expects traditional financial companies to make more use of stablecoin settlement infrastructure, while additional providers connect blockchain networks with existing banking rails.

The company has begun building its own U.S. regulatory footprint. RedotPay said it recently obtained its first U.S. money transmitter license and has applications pending in more than 20 additional states.

Card networks have been adding stablecoin settlement services at the same time. In June, Mastercard added support for settlement using six regulated dollar-backed stablecoins, including USDC, PayPal USD, Ripple USD, Global Dollar, Pax Dollar and SoFiUSD.

Mastercard said the system can settle transactions outside normal banking hours, including weekends and holidays, while retaining existing card payment processes. Supported blockchain networks included Ethereum, Solana and the XRP Ledger.

Stripe has also been building stablecoin card infrastructure through Bridge. A July report detailed how the program expanded into more than 100 markets after Stripe acquired the stablecoin infrastructure company.

Former Stripe stablecoin partnerships head Connor Fitzgerald said the team established sponsor bank and card network relationships, built stablecoin settlement infrastructure in the United States and took annualized payment volume from zero into the tens of millions of dollars.

Stablecoin payments extend beyond consumer checkout

Card spending represents one part of the stablecoin payments market, with cross-border settlement, remittances and business payments accounting for other use cases that RedotPay expects to support future adoption.

In May, BridgerPay co-founder and CEO Ran Cohen said stablecoin payment demand remained concentrated in cross-border settlement, business-to-business payouts and treasury operations. Cohen expected stablecoins to expand through business payment flows without displacing conventional cards at merchant checkouts.

RedotPay’s model connects the two systems by allowing users to fund spending from digital assets while relying on existing card networks for merchant acceptance.

The company identified Latin America, Africa and Asia-Pacific as important markets in its forecast. RedotPay said customers in such regions can use stablecoins for dollar savings, international purchases, travel spending and access to payment products that may not be available through their local banks.

Cross-border use also gives stablecoin cards a role in remittances and foreign exchange, according to the company, particularly where customers already hold digital dollars and need to convert or spend them without moving funds through several financial services.

RedotPay said competition among companies connecting traditional banking systems with stablecoins could reduce costs as more providers enter the sector. The company expects established financial institutions to increase their use of stablecoin rails as payment infrastructure develops.

Its 2028 projection would put annual stablecoin card spending at $50 billion, roughly four times the current annualized level cited by the company, while remaining a small fraction of the more than $20 trillion RedotPay expects consumers to spend using traditional cards this year.

The company currently serves more than 8 million users globally, with pending money transmitter license applications in more than 20 U.S. states alongside the first state license it has already received.