Stablecoin Card Spending Could Hit $50 Billion Annually by 2028 After Record $1 Billion Month

Global stablecoin card spending is projected to reach $50 billion annually by 2028, according to payments firm RedotPay. The forecast follows a record month, with stablecoin card spend crossing $1 billion for the first time in July 2026. Growth is running fastest across Latin America, Africa, and Asia-Pacific.

July’s Record Month, By the Numbers

Stablecoin-funded card purchases hit $1.03 billion in July 2026, per data from analytics firm PaymentsScan. That figure marked a 16% jump from June and roughly 200% growth year-on-year.

• July 2026 volume: $1.03 billion, up from $339 million a year earlier
• More than 10 million individual purchases logged during the month
• Cumulative stablecoin card spending has now exceeded $10.9 billion

RedotPay expects the next $10 billion to be spent in just eight months, after the market took roughly three years to reach its first $10 billion.

🪙 Global stablecoin card spending is projected to quadruple, reaching $50 billion annually by 2028, according to a forecast by RedotPay.

While this growth is driven by regions with high economic volatility, it remains small compared to the $20 trillion processed annually by… pic.twitter.com/fxFbyvNdzC

— Mazi okwuoma (@MaziEzike_Nedu) August 25, 2026

Why RedotPay Sees $50 Billion by 2028

RedotPay’s 2028 forecast would roughly quadruple current annualized stablecoin card spending. The Hong Kong-based firm serves more than 8 million users worldwide, with total annualized payment volume already exceeding $14 billion.

Jonathan Chan, RedotPay’s co-founder, said growth depends on real payment pain points, easy stablecoin access, and regulatory clarity. Latin America leads adoption today, followed closely by Africa and Asia-Pacific. RedotPay is pursuing money transmitter licenses across more than 20 U.S. states to support this expansion.

Regulation Is Reshaping the Stablecoin Market

The GENIUS Act, signed into law in mid-2025, created the first federal framework for dollar-backed payment stablecoins. It mandates that issuers hold liquid reserves at a 1:1 ratio. One year into that framework, the stablecoin market has grown sharply.

• Market cap: grew from roughly $250 billion to more than $304 billion in one year
• USDT and USDC together: control close to 83% of total stablecoin supply
• US Treasury projection: domestic stablecoin market could exceed $2 trillion by end of 2028

Standard Chartered analysts have echoed that same $2 trillion projection for the broader US market.

Payment Giants Are Building Infrastructure

Visa outlined a full-stack strategy on its third-quarter fiscal 2026 earnings call, covering OpenUSD issuance and tokenized deposits. Circle, the issuer behind USDC, continues expanding its role in dollar-pegged settlement rails. Both companies stand to benefit directly as stablecoin card volume scales toward RedotPay’s $50 billion target.

Even at $50 billion annually, stablecoin card spending would remain a small slice of the broader payments market. Traditional bank cards are expected to process more than $20 trillion globally this year.

Looking Ahead

Stablecoin card spending is shifting from a crypto niche into a measurable retail payment channel. Regulatory clarity under the GENIUS Act and rising emerging-market demand are driving that transition. Whether the $50 billion target holds will depend on continued fiat off-ramp expansion through 2028.

Disclaimer:

The content shared by Meyka AI PTY LTD is for research and informational purposes only. Meyka is not a financial advisory service, and the information provided should not be treated as investment or trading advice.