The events of the past week in the crypto card market can confidently be called tectonic. Several major players simultaneously launched new products, leading to a fundamental shift in understanding the value of such services. The total volume of crypto card top-ups exceeded $10 billion, and competition has shifted from the number of supported coins toward real user utility.
Here are the key launches that shaped the new reality.
Bitunix: Visa debit card with yield
Bitunix exchange has launched a Visa debit card that allows spending cryptocurrency directly from an account. The product stands out with up to 8% cashback and up to 11.6% annual yield on the balance. This is no longer just a spending tool — it is a full-fledged financial product with savings elements.
Kraken: entry into the UK and EEA markets
Kraken has launched a Mastercard debit card for residents of the UK and the European Economic Area. Simultaneously, its parent company Payward announced the acquisition of Reap Technologies for $600 million. This is a strategic move that strengthens the exchange's payment infrastructure.
Coinbase: travel with Bitcoin cashback
Coinbase has launched a travel portal for its cardholders. Users receive 5% cashback in Bitcoin for booking travel. This is a smart move that ties the card's utility to the real world rather than speculation.
Exodus: stablecoins for subscriptions
Exodus wallet has added the ability to pay for subscriptions with stablecoins in several Latin American countries. New users receive 25% cashback for the first month. This is a direct bridge between DeFi tools and everyday expenses.
Visa: infrastructure for banks
Visa itself has launched a platform that allows banks and fintech companies to issue, store, and settle transactions in stablecoins through its infrastructure. This is a legitimization of cryptocurrencies at the level of traditional payment systems.
The market in numbers
According to Paymentscan, the volume of crypto card top-ups has exceeded $10 billion. This is an 82% increase since the start of the year and approximately 250% year-over-year. Notably, about 90% of tracked spending now occurs in stablecoins. This means users are increasingly using crypto cards not for speculation, but for real transactions.
Paradigm shift
Competition is no longer about who supports more coins. The ability to spend cryptocurrency has become a basic requirement. The real battle is now around cashback, yield, and ease of use. As I have repeatedly emphasized, it is real utility, not the list of digital assets, that determines a product's appeal. This trend will only intensify with mass adoption.
My conclusion: the crypto card market is maturing. We are moving from the stage of "look, we support 50 coins" to the stage of "here's how this card will improve your life." And that is exactly what is needed to attract the next wave of users.