According to a Gate Research report, the global crypto card market has reached a new milestone, with monthly transaction volume surpassing $1 billion as digital assets increasingly find their way into common payment use cases.
Crypto Card Market Crosses $1 Billion in Monthly Volume
Since March 2023, the total transaction volume across tracked cryptocurrency card projects has exceeded $10 billion, according to data provided by Gate Research. In July 2026, monthly transactions surpassed 10.5 million, and monthly volume reached about $1.038 billion.
The transaction volume for the first seven months of 2026 alone was approximately $5.48 billion, surpassing the $3.8 billion recorded for the entire year of 2025. The market is still dominated by a few key players. With over $6 billion in tracked cumulative volume, RedotPay makes up about 56% of the total.
Source: Gate Research
Approximately $754 million and $684 million have been generated by Ether.fi and KAST, respectively. Self-custodial and smart contract-based payment models have been the focus of other participants, such as MetaMask and Gnosis Pay. According to Gate Research, the industry is currently being shaped by a number of models.
While more recent instant-payment systems convert assets during a card transaction, traditional prepaid products require users to convert or transfer cryptocurrency before spending. Stablecoin settlement, smart contract debits, and crypto-backed borrowing are additional strategies.
The expansion also reflects the shift in the usage patterns of digital assets holders. Cryptocurrency cards are no longer limited by small retail purchases, as they cover larger spending points like travel, software subscriptions and cross-border payments.
Gate connects card spending with assets already held on its platform. Gate Pay, spot accounts and Simple Earn balances are used as multiple liquidity sources for users, instead of constantly transferring assets to separate payment services.
Gate Card Combines Instant Spending and Prepaid Models
Both instant-spending and prepaid systems are supported by Gate Card. Users can choose from spot accounts, flexible-term Simple Earn balances, or Gate Pay as funding sources under its instant model.
Source: Gate Research
When a payment occurs, the system manages the deduction and conversion. In contrast, before making a purchase, users of the prepaid option must convert their assets into the supported fiat balance.
Additionally, Gate has integrated its card offering with its larger exchange network. Because of its multi-account structure, users don't have to manually transfer assets between trading, yield, and payment accounts. Gate Card also runs a six-tier T0–T5 cashback program. Depending on tier requirements, spending caps, and exclusions, qualified purchases can earn rewards of up to 8%.
Addressing structural risks
Crypto cards still face a number of structural risks despite their rapid expansion. Dependency on banking and card-issuance partners, custody and smart contract risks, exposure to stablecoins, regional regulatory disparities, and concerns about the sustainability of high cashback rates were all highlighted by Gate Research.
Nevertheless, the industry's expansion suggests that cryptocurrency cards are becoming an important link between digital assets and traditional payment systems.
The Gate Card's growth will depend on transparent fee structure and proper processing, while preserving advantages of its integrated account model. These points will be the key to strengthening the card's role as an everyday spending tool and a bridge between Gate's trading, yield and payment services.
U.Today Editorial Team
Dan Burgin
