Visa Crypto Card Spending Explodes 525% in 2025

Crypto-linked payment cards operating on Visa’s network saw a sharp increase in usage throughout 2025.

The development signals deeper integration of digital assets into everyday consumer payments. According to data from Dune Analytics, combined spending across tracked crypto cards surged by 525% over the year.

Specifically, net card spend climbed from $14.6 million in January to $91.3 million by December. This reflects steady and sustained growth rather than a short-lived spike.

The expansion encompassed six Visa-linked crypto card programs, issued by payments platforms Cypher and GnosisPay. It also included decentralized finance projects such as EtherFi, Moonwell, Exa App, and Avici Money. Although all six contributed to the overall rise, spending activity varied significantly among providers.

EtherFi’s Visa-linked card emerged as the clear leader, recording $55.4 million in total spending during the year. Meanwhile, Cypher secured the second position with $20.5 million in card transactions. In contrast, the remaining programs reported comparatively modest volumes, highlighting EtherFi’s dominant position in 2025.

Analysts Link Growth to Everyday Use Cases

Industry observers say the surge reflects a broader shift in how digital assets are being used. For instance, commenting on the data, Polygon researcher Alex Obchakevich noted that rising transaction volumes indicate strong user adoption of crypto-linked cards.

In a post on X, Obchakevich noted that cryptocurrencies and stablecoins are becoming increasingly embedded in Visa’s global payments infrastructure. According to him, the growth suggests crypto is no longer confined to speculative use but is instead increasingly supporting routine financial activity.

Visa Deepens Stablecoin Strategy

This trend aligns with Visa’s evolving strategic focus on stablecoins. Notably, the payments giant has extended support for stablecoin to four blockchains: Ethereum, Avalanche, Stellar, and Solana. This strategic expansion positions the company for the broader rollout of its crypto card offerings in 2026.

Visa reinforced this commitment in mid-December by launching a dedicated stablecoin advisory team. The group is designed to help banks, merchants, and fintech firms onboard, launch, and manage stablecoin-based payment products.

Overall, growing adoption of cards linked to cryptocurrencies and Visa’s expanding stablecoin infrastructure suggest that digital asset payments are becoming a more established component of the company’s broader financial ecosystem.