OKX Card Spending Surges in Europe as Stablecoins Move Into Everyday Payments
Grocery spending rises 482% between May and July, but the emerging model relies on converting digital assets into fiat through existing card networksStablecoin-funded payments are moving beyond trading platforms and into everyday spending across Europe, as consumers increasingly use digital assets t
In recent months, the use of digital assets for everyday payments in Europe has surged, with OKX reporting a 280% year-on-year increase in card spending through its European card network. The shift in consumer behavior is evident, with grocery purchases increasing by 482% between May and July, and transport and fuel spending climbing by 530%.
The trend is particularly notable in Poland, where groceries and everyday expenses accounted for 31.7% of OKX Card spending, surpassing other categories such as transport and utilities in other European markets. The OKX Card enables customers to fund purchases using supported stablecoins held in an OKX Pay account, which are then converted to euros for settlement through the Mastercard network.
Erald Ghoos, CEO of OKX Europe, noted that the growth in OKX Card spending reflects a shift in what consumers are spending their digital assets on, rather than just an increase in transaction volume. The data suggests that stablecoins are increasingly functioning as a funding layer behind familiar card transactions, allowing consumers to maintain a similar payment experience while merchants continue to receive fiat currency through established card networks.
While the exact transaction values and number of cardholders remain undisclosed, the percentage increases highlight the potential for stablecoins to lower barriers to mainstream adoption of digital assets in everyday transactions. However, further data will be necessary to determine whether this growth represents sustained usage patterns or an early-stage expansion from a relatively small base.
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