Stablecoin card spending forecast to hit $50 billion a year by 2028 - RedotPay

Global stablecoin card spending is projected to reach $50 billion annually by 2028, according to RedotPay, a stablecoin payments company headquartered in Hong Kong. This projection comes after stablecoin card spending surpassed the $1 billion mark in July, as reported by crypto payment card analytics firm Paymentscan. Stablecoins, which are cryptocurrencies pegged to assets like the U.S. dollar, are gaining popularity in cross-border payments, treasury operations, crypto settlements, and as a stable store of value in volatile economies.

According to Jonathan Chan, co-founder and head of partnerships at RedotPay, Latin America currently leads in stablecoin adoption and growth potential, followed by Africa. The markets with the fastest growth are not necessarily those with the highest crypto penetration, but rather those experiencing significant payment pain, easy access to stablecoins, robust fiat off-ramps, and regulatory clarity.

As of now, RedotPay has over 8 million users worldwide and a total annualized payment volume of more than $14 billion, including top-ups and card spends.