Stablecoin card spending could reach $50B annually by 2028: RedotPay

Stablecoin card spending has crossed $10.9 billion in cumulative volume as RedotPay projected that annual spending through the products could quadruple to $50 billion by 2028. Summary Stablecoin cards have processed more than $10.9 billion in cumulative spending. July card spending topped $1 billion for the first time, according to Paymentscan. RedotPay expects annual stablecoin card spending to reach $50 billion by 2028. The company cited adoption, clearer regulation and cross border payment use as growth drivers. RedotPay said in an Aug. 25 blog post that the industry recorded more than $1 billion in card spending during July for the first time, citing independent payments data provider Paymentscan, as usage continued to rise across markets in Latin America, Africa and Asia-Pacific. The stablecoin payments company expects the industry to process its next $10 billion in eight months after taking roughly three years to reach the first $10 billion. By 2028, RedotPay expects stablecoin-powered cards to be handling $50 billion in annualized spending. “When you consider that over $20 trillion will be spent this year on traditional cards, $50 billion per year no longer seems unattainabl...