Stablecoin-funded card spending on Solana hit a record $141 million in October. The figure follows $113.9 million in September, and Solana's card volume has set monthly highs through the year.
Crypto card spending funded by stablecoins on Solana reached a record $141 million in October, the network's biggest month yet for this kind of real-world spending.
From $19.7 million to a new record
According to on-chain data tracked by Paymentscan, Solana's stablecoin-linked card volumes reached $113.9 million in September. A year earlier, the same metric stood at $19.7 million, a 478% year-over-year increase.
October went higher still. Research findings put the month's card spend at approximately $141 million, and preliminary data suggested the final total could land above that mark.
Solana is not alone in this market. Total tracked stablecoin card spending across all networks reached approximately $1.17 billion in September, with some estimates as high as $1.37 billion. Solana typically ranks third by on-chain volume share, behind Base and Optimism.
What is powering the swipe
Partnerships with card networks such as Visa give these cards broad merchant acceptance. Issuer incentives also play a part: RedotPay, one of the leading card programs, has drawn users with rewards and accounted for roughly $402 million in card volume over a recent 30-day window.
Solana's low fees and high transaction throughput make it practical to settle many small payments. The currencies in use are overwhelmingly dollar-denominated, with USDC at about 58% of stablecoin card volume and USDT at about 26%.
A bigger stablecoin base underneath
Card spending sits on top of a larger stablecoin footprint. Solana's stablecoin supply has climbed past $15 billion, peaking at roughly $17.3 billion to $17.5 billion in September. The network counted more than 14 million stablecoin-holding addresses by early October.
The source flags two risks. A large share of activity runs through a handful of card programs, and USDC and USDT together account for the bulk of volume, so a disruption or policy change at either issuer would ripple straight into these numbers.
Source: Crypto Briefing
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