The first billion-dollar month.
Crypto cards settled $1.04Bon-chain in July 2026 — the first month over $1B in the category's history, +11% vs June and the sixth consecutive record. Measured from settlement transactions, not press releases.
The podium
All-time high. ~48% of the whole market by itself.
New all-time high — smashed its June record by 25%.
Steady at the top of self-custodial — ~$112M settled.
The July leaderboard
Top 10 by settled July volume. Every figure measured on-chain.
| # | Card | July | MoM | Users | The story |
|---|---|---|---|---|---|
| 01 | $495.0M | +4% | 501.7K | All-time high. ~48% of the whole market by itself. | |
| 02 | $248.1M | +25% | 137.3K | New all-time high — smashed its June record by 25%. | |
| 03 | $112.0M | +3% | 78.8K | Steady at the top of self-custodial — ~$112M settled. | |
| 04 | $56.4M | +44% | — | Record month, +44%. Still the biggest card nobody talks about. | |
| 05 | $35.4M | -2% | 44.5K | First stall since launch — flat after five months of hypergrowth. | |
| 06 | $24.0M | +1169% | 95.5K | The comeback: 12× month-over-month off a near-dead base. | |
| 07 | $15.5M | -1% | 104.7K | Volume steady while TRIA trades −83% from ATH. Full decoupling. | |
| 08 | $15.0M | +43% | — | +44% — quietly compounding on Rain rails. | |
| 09 | $8.1M | +22% | 72.3K | +23% — best month since the EU interchange squeeze began. | |
| 10 | $4.6M | -14% | 142.0K | Softening — −14% on the month. |
On-chain settlement, OpenRate index / Paymentscan-reconciled. Users = monthly active per program where the settlement structure exposes them (batch-settled programs show —). Custodial cards (Nexo, Crypto.com, exchange cards) have no public settlement and are excluded — see the live ranking for how we treat them.
Twelve months to $1B
Total measured settlement per month, Aug 2025 → Jul 2026.
The month in six lines
The market crossed $1B in a single month for the first time — a year ago it did roughly half that.
KAST set a new all-time high ($248M, +25%) three weeks after telling users its token would never launch. Spend didn't care.
RedotPay's $495M is 48% of everything — approaching a monopoly on measured volume.
Wirex One went from $1.9M to $24M in one month — the old guard relaunching on new rails.
Cypher fell 55% as its Nium wind-down plays out; it exits the top 10 next month, and our index will show its exact final day.
Karta and Kolo — cards with almost zero social presence — grew 44% each. Distribution is happening off-Twitter.