Visa Now Processes 90% of Crypto Card Payments — Not…

Stablecoins were designed to route consumers around legacy payment rails, but the data tells a different story: Visa now processes roughly 90% of all crypto-card transactions, with monthly spending hitting $600 million and cumulative on-chain card volume reaching $7.2 billion across 24 million transactions. USDT accounts for 62.5% of settled volume, while Jupiter Global's USDC-backed card — built entirely on Visa rails — grew 660% month-over-month.

The mechanics explain the outcome. When a user spends USDC via a Visa-linked card, the blockchain never touches the point of sale: USDC converts to dollars behind the card, merchants receive ordinary fiat, and Visa captures interchange, data, and the consumer relationship at every transaction.