Stablecoin Card Spending Hits $1B in July, Driven by Jupiter

Stablecoin card spending crossed the billion-dollar threshold in July for the first time, reaching $1.03 billion across the industry. That’s a 16% jump from June and a 200% increase compared to the same month last year, with more than 10 million individual purchases driving the milestone.

Jupiter Global, the Solana-based platform that grew out of the popular Jupiter decentralized exchange aggregator, sits at the center of this surge. Its USDC-backed Visa debit card has quickly become one of the most visible bridges between on-chain stablecoin balances and real-world spending.

The Jupiter Card launched earlier this year with a straightforward pitch: let people spend their USDC holdings anywhere Visa is accepted, without needing to off-ramp through a traditional bank first. That means access to over 150 million merchants globally, spanning more than 60 countries.

The onboarding incentives were aggressive. A 2% baseline cashback rate, with the potential to hit 4% through referrals, gave early adopters a tangible reason to load up their cards. Those promotional tiers ran through June before transitioning to standard reward levels.

Even after the promo period ended, adoption kept climbing. Jupiter Global reported a 65% month-over-month increase in new card users during July. An earlier data segment showed an even more dramatic 660% spike in sign-ups, suggesting the growth curve has been steep since launch.

Visa processes roughly 90% of the transactions flowing through stablecoin-linked cards. On the stablecoin side, USDT accounts for approximately 62.5% of settled stablecoin card volume, with USDC filling in much of the remainder.

The $1.03 billion in card spending represents a meaningful decoupling of stablecoin usage from speculative activity. Crossing the billion-dollar monthly mark puts the stablecoin card segment on pace for over $12 billion in annualized spending. A year ago, the monthly figure was roughly a third of where it stands now.