Paymentscan

We're excited to see VISA's Onchain Data Lead @0xSector draw insights from our data. If you're interested in the stablecoin card stack, onchain settlement, and the joys and limitations of onchain data, this is the place to start.

See Phantom Cash metric: paymentscan.xyz/cards/phantom-…

The @Phantom Cash card is on track to do its best week ever. Last week the card saw $264K in onchain-observable volume across 1,424 users.

Now live on Paymentscan: @Stablecoin

BREAKING: @raincards has crossed $2 BILLION in all-time stablecoin card payments. Top card programs powered by Rain include KAST, EtherFi, and Karta.

See more Rain data: paymentscan.xyz/issuers/rain

Rain settles card payments on more than 10 blockchains. Today, their top networks by volume are Base, Solana, and Optimism.

Data for Plasma One is now live on Paymentscan! Last week they crossed $500K in spends via over 800 users! Weekly ATHs across all metrics whilst still rolling out codes. Learn more ➡️ paymentscan.xyz/cards/plasma-o…

Crypto Cards Weekly Digest: May 4-10 Volume: RedotPay: $100.7 million KAST: $19.93 million EtherFi: $18.08 million Karta: $8.11 million Tria: $3.51 million Cypher: $2.41 million Gnosis: $2.38 million MetaMask: $1.27 million Other: $7.38 million Total: 163.8 million (-2.3% WoW) Transactions: EtherFi: 215,060 RedotPay: 131,329 Bitget Wallet: 99,468 Gnosis: 50,089 Safepal: 41,647 BFinance: 38,162 MetaMask: 23,966 KAST: 23,800 Other: 54,841 Total: 678,362 (-0.4% WoW) Users: RedotPay: 71,994 EtherFi: 21,741 Bitget Wallet: 15,133 BFinance: 10,930 KAST: 8,464 Safepal: 6,974 Tria: 6,394 Gnosis: 5,505 Other: 14,577 Total: 161,712 (-2.5% WoW) Interesting stats: RedotPay was the biggest volume loser WoW: $105.4M → $100.7M EtherFi was the biggest gainer in transactions: 209,981 → 215,060 and users: 21,253 → 21,741 WoW KAST nearly crossed 20 million weekly volume for the first time.

crypto card market is growing. but three structural problems remain unresolved, and they are the reason mass adoption is not happening at the speed the industry expects. 1/ identity verification costs are rising for users, not just platforms. every new card requires a full kyc cycle, document upload, liveness check, manual review. data is stored in centralized databases. the track record of those databases is not encouraging. meanwhile, verified accounts are openly traded on gray markets starting at $30. person who completes kyc correctly carries the risk. person who buys an account does not. 2/fraud protection on crypto cards is structurally weaker than on traditional cards. when a transaction dispute arises, users face chargeback fees and no guaranteed recovery. traditional card networks offer zero-liability protection by default. that gap in consumer protection is measurable, and for many users, it is the deciding factor when choosing which card to carry. 3/ fee structures lack transparency. cards marketed as "0% fees on stablecoins" routinely include fx conversion spreads, inactivity fees, and markup on cross-border transactions. the actual cost of usage is rarely disclosed upfront. new entrants are already competing on fee transparency as a positioning strategy, which signals how significant this pain point is for the market. the settlement layer is improving. onchain infrastructure is maturing. the gap is at the user experience level, and until it closes, adoption will remain constrained by problems that have nothing to do with blockchain technology.

$1B monthly volume for crypto cards is inevitable Last week crypto card volume update vs the week before Total volume: ~$164.9M (-1.7%) Small cooldown in spending before new highs New projects keep entering the market every single week

Neobanking Weekly Recap (4th-10th May) Onchain card flows just exceeded $160M for the second week in a row, with RedotPay, KAST, and EtherFi making up 85% of volumes. Fastest growers this week: 🥇 @hyperbeat $106K (+42.5%) 🥈 @itstuyo $337K (+24.3%) 🥉 Karta $8.1M (+15.7%)

Whenever I start calls with CT natives, I pull out @PaymentScan and show them. The reaction is almost always: "Let me have a serious look into this." It’s all been organic so far, no speculative tokens or chain slugging. That’s going to change as this space becomes the next battlefield, but what will emerge is a rock solid permanent ecosystem and a ton of happy new (and exisiting) users.

See more stablecoin card data: paymentscan.xyz

Reap also issues cards for other top programs like @KASTxyz and @ether_fi. While Reap flows are neither public nor onchain, data for other issuers suggests Reap only accounts for a small fraction of these programs' volumes.

Kraken just acquired @ReapGlobal, a leading stablecoin card issuer for $600 million! Reap is one of the issuers powering @RedotPay, which is the most widely adopted crypto card program with onchain deposits north of $400+ million per month.

Crypto cards reached $ 649M in April, showing a 192% YoY growth. The leading chain remains @trondao, accounting for 32% of the total volume. Crypto cards generate more volume on TRON than on @ethereum and @BNBCHAIN combined. TRON has a massive user base in Southeast Asia, Latin America, and Africa - regions where demand for crypto cards as an alternative to traditional banking systems is the strongest. At the same time, solana:Es9vMFrzaCERmJfrF4H2FYD4KCoNkY11McCe8BenwNYB is the primary stablecoin used for payments via crypto cards, which is logical given the dominance of @trondao and @RedotPay. It accounts for 62% of the total crypto card volume, while solana:EPjFWdd5AufqSSqeM2qN1xzybapC8G4wEGGkZwyTDt1v holds a 25% share. Crypto cards have strong growth potential in the near term, and I expect monthly volume to surpass $ 1B as early as this summer.

@0xSector See more crypto card data: paymentscan.xyz

We're excited to see VISA's Onchain Data Lead @0xSector draw insights from our data. If you're interested in the stablecoin card stack, onchain settlement, and the joys and limitations of onchain data, this is the place to start.