Dollar-backed stablecoins now dominate crypto card payments as euro-pegged tokens lose nearly all their market share in just two yearsIn early 2024, euro-backed stablecoins accounted for roughly 88% of all crypto card spending. Monthly crypto card spending hit $759 million in July 2026, up from $306 million a year earlier, according to data from Paymentscan highlighted in an a16z crypto analysis. The dollar stablecoin takeoverUSDC now commands approximately 58% of all crypto card spend, up from about 48% a year ago. AdvertisementTogether, the two dollar-pegged tokens account for 84% of crypto card transactions. Optimism now leads all chains with 29% of crypto card spending volume.