The total accumulated recharge amount of stablecoin cards has reached 13.8 billion USD, with USDC leading in consumption scale

As of August, the total recharge amount for USDC and USDT related stablecoin cards has reached $13.8 billion, an increase of nearly $10 billion over the past 12 months. Stablecoin cards are shifting USDC and USDT from trading balances to everyday consumption scenarios. USDC currently leads in tracked card spending, while USDT is accelerating its catch-up. The usage paths of the two are different; USDC benefits more from fintech integration and payment infrastructure, while USDT is more active in exchanges, remittances, and emerging markets.

On-chain settlements also show a multi-chain distribution, with Base leading at approximately $1.2 billion, followed by Solana at $635 million, Polygon at $544 million, and Optimism at $509 million. Networks such as Arbitrum, Scroll, Ethereum, and Stellar also host considerable activity. Stablecoin cards still rely on traditional payment networks like Visa and Mastercard, with competition shifting focus to custody, foreign exchange costs, cashback, and capital efficiency. Circle has renewed its USDC partnership with Coinbase under the original terms and excluded dividend arrangements.