In July, stablecoin neobanks saw a breakthrough, with monthly flows topping $1 billion for the first time. Spending through these platforms reached $748 million, marking a 19% increase from June.
Unlike speculative trading, this growth reflects everyday use of crypto for routine expenses. People are quietly using stablecoin-backed cards to pay for groceries and other daily needs, signaling deeper adoption beyond market hype.
RedotPay leads the pack, accounting for over 50% of the market share with $382 million in processed volumes. Following are EtherFi Cash, known for yield-earning features, and KAST, which has been rapidly gaining ground.
Smaller players like Avalanche Card and Plasma One are also expanding quickly, seeing month-over-month jumps exceeding 50%. This points to a broadening ecosystem for stablecoin neobanks across various providers.
The consistency of growth despite a flat market this year suggests this is habitual consumer behavior rather than capital chasing bullish trends. Stablecoin neobanks are carving out a space where crypto meets everyday spending.
This is informational content, not investment advice.
