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Visa Emerges as Leading Crypto Card Issuer with $3.65 Billion Monthly Transaction Volume
BlockBeats News, November 26th, Analyst @obchakevich_ posted on X platform that as a cryptocurrency card issuer, Visa dominates with a monthly transaction volume of $365 million. The analysis selected 13 representative cryptocurrency cards and drew conclusions by calculating their on-chain transfer volume, card top-ups, payments, and card service in-app payment data. Among the 13 projects, Visa-related projects accounted for as many as 10, while Mastercard only had 3. The growth in Visa's transfer volume is driven primarily by three payment projects: Rain Card, RedotPay, and Etherfi Cash, with a total transaction volume of $320 million.
The analyst stated that most projects launching cryptocurrency cards choose Visa because its issuance is simpler, operating costs are lower, and compliance risks are lower. While Mastercard is reliable, it has stricter audits and higher fees, leading to fewer payment projects choosing it. It is worth noting that thanks to Rain, Visa has more cryptocurrency cards in the market.
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