Visa-Backed Crypto Card Usage Grew 525% in 2025

TLDR

• Visa‑issued crypto card spending increased 525% from January to December 2025, based on Dune Analytics data.
• EtherFi recorded the highest spending volume at $55.4 million, leading all tracked Visa crypto card programs.
• Cypher followed with $20.5 million in total spend, while other issuers posted steady increases.
• Six platforms issued Visa crypto cards, including GnosisPay, Avici Money, Exa App, and Moonwell.
• Visa enabled stablecoin settlement across multiple blockchains, supporting crypto card usage at global points of sale.

Spending across crypto cards issued through Visa partnerships surged in 2025, increasing by 525% from January through December. According to Dune Analytics, platforms including EtherFi, Cypher, and GnosisPay contributed to the sharp rise in volume across six card programs.

EtherFi and Cypher Drive Card Usage Growth

Visa-backed crypto cards saw strong adoption throughout 2025, with EtherFi leading all programs in net spending. Dune Analytics recorded $55.4 million in spend volume for EtherFi’s card, making up the majority of total tracked activity. Cypher followed with $20.5 million, while the remaining platforms showed smaller but consistent increases. The six cards were issued by EtherFi, Cypher, Avici Money, GnosisPay, Exa App, and Moonwell.

These platforms partnered with Visa to connect crypto wallets to real-world payment rails. Their offerings allow users to spend stablecoins or crypto assets through Visa’s global network. Across all six cards, net spending rose from $14.6 million in January to $91.3 million by December. The jump reflects a 525% increase year-over-year, based on aggregated data.

Monthly spend volumes climbed throughout the year without sharp volatility, indicating consistent usage. Polygon researcher Alex Obchakevich commented on the figures in a post on X. “These figures demonstrate fast adoption of crypto cards and their role in Visa’s global payment ecosystem,” he wrote. He also stated that crypto spending now reflects routine financial behavior rather than experimental use cases.

Visa Sees Cards as Gateway to Crypto Payments

Visa expanded its crypto partnerships in 2025, supporting more card issuers and increasing back-end infrastructure for stablecoin settlement. The firm now enables stablecoin transactions on Ethereum, Solana, Avalanche, and Stellar. This multi-chain integration supports seamless conversions between crypto and fiat at point of sale.

As reported by Blockonomi in December, Visa introduced a stablecoin advisory unit to help banks and fintechs deploy crypto-linked products. The team supports product design, smart contract frameworks, and settlement risk analysis. Visa confirmed that stablecoin-enabled cards fall within this expanded advisory focus.

Card issuers like EtherFi operate wallets that manage crypto balances and convert assets to fiat during transactions. These platforms integrate directly with Visa’s network for global access. Spend volumes remain highest in the U.S., Europe, and select Asia-Pacific markets. Crypto card usage is expected to grow further in 2026, supported by Visa’s infrastructure upgrades.