Stablecoins are transitioning beyond crypto trading into everyday payments, with monthly crypto card purchases now exceeding $750 million according to a16z. The payment system automatically converts stablecoins to local currency, letting merchants accept standard fiat without direct crypto integration. Cardholders can deposit stablecoins with an issuer or hold them onchain via self-custody. Circle’s USDC has surpassed Tether’s USDT in 2026, and total stablecoin transaction volume reached $4.8 trillion in the last month. The Stablecoin Supply Ratio RSI has recovered from 2026 lows, signaling stronger stablecoin liquidity relative to Bitcoin’s market value in the second half of the year.
Stablecoins are becoming increasingly like regular money, no longer limited to crypto exchange markets. An analysis by a16z indicates that cryptocurrency payment cards now process monthly purchases totaling over $750 million.
Historically, users would sell stablecoins on an exchange before withdrawing cash to a bank account. Today, a crypto card allows users to spend stablecoins, and the payment system automatically converts them into the merchant’s local currency.
Businesses can accept standard fiat payments without directly handling cryptocurrency. As a16z stated, “Crypto cardholders don’t require a traditional bank account. Depending on the program, users either deposit stablecoins with a card issuer, or hold them directly onchain through self-custody.”
The firm also noted, “Crypto cards expand people’s access to U.S. dollar accounts globally, and they offer a convenient way for stablecoin holders to transact.” Unlike volatile assets such as Bitcoin, stablecoins are designed to maintain a steady value, making them more practical for daily spending.
The rising monthly expenditure signals that stablecoins are gaining value as a tool for in-person payments. Meanwhile, Circle’s USDC has overtaken Tether’s USDT in 2026, and stablecoin transaction volume reached $4.8 trillion over the past 30 days, according to Visa on-chain analytics.
The Stablecoin Supply Ratio (SSR) RSI, which measures Bitcoin’s market value relative to stablecoin liquidity, has bounced back from its 2026 lows. Earlier this year, elevated SSR RSI levels preceded significant Bitcoin corrections during the May–June rally.
As Bitcoin fell toward the $60,000–$70,000 range, the SSR RSI dropped and generated a series of buy signals. This indicates that stablecoin liquidity has grown comparatively stronger relative to Bitcoin’s market value in the second half of 2026.
