Top 10 Crypto Cards by Volume — May 2026 ($750M Record)
May was the best month ever for crypto cards. Total volume passed $750M for the first time. Here is the full breakdown — who won, who is growing fastest, and what it means for the space.
Why This Record Matters
Crypto card volume barely existed two years ago. Monthly spending was around $100M in mid-2024. By March 2026 it hit $607M. May 2026 broke that record again at $750M+ — a 6x increase in under two years.
This is not speculation. These are real transactions — stablecoins moving through Visa rails at checkout counters, airports, and grocery stores around the world. The growth is driven by three things: rising stablecoin usage as a savings vehicle in emerging markets, cashback rewards programs, and simpler onboarding compared to earlier crypto products.
Important Context
Volume figures are not all measured the same way. Custodial cards like RedotPay track deposit flow — crypto moved into the card wallet, not necessarily spent. Non-custodial cards like ether.fi track actual on-chain spend transactions. This means RedotPay's $445M may overstate actual consumer spending, while ether.fi's $80M is closer to real checkout volume.
Top 10 by Volume — May 2026
Dominates the category — nearly 5x ether.fi and KAST combined. Mainly used for large USDT/USDC off-ramp transfers in Southeast Asia, Africa, and Latin America.
Get RedotPay — Up to 6% cashback →Raised $80M Series A. Season 5 offered up to 12% cashback in $MOVE tokens. On pace for $100M ARR in 2026. Growing fast with strong rewards program.
Get KAST — Up to 12% cashback →The only truly non-custodial card in the top 3. 842K transactions in April — more than KAST and RedotPay combined by transaction count. Borrow against ETH without selling.
Strong growth trajectory in the European market. Up 24.1% month-over-month — one of the faster-growing mid-tier cards in the top 10.
Fastest growing card in the top 10 at +47.1%. Self-custodial with multi-chain support. Small base but explosive growth — one to watch for H2 2026.
Solid growth at +22.3%. Focused on emerging market accessibility with simple onboarding.
European non-custodial card running on Gnosis Chain. MiCA compliant. Lower growth but strong on self-custody simplicity within the EU.
Non-custodial card with on-chain spend tracking. Modest growth at +3.5% but holds steady in the top 10.
Exchange-linked card from Bitget. Modest volume but steady growth. Best for existing Bitget users who want a spend card linked to their exchange balance.
The only card in the top 10 to decline in May at -21.7%. Ready Metal offers 0% FX fees and $800 free ATM withdrawals monthly. Decline may reflect seasonal or competitive pressure.
Key Takeaways
RedotPay is the undisputed leader
At $445M — 60% of all volume — RedotPay runs the category by a massive margin. Nearly 5x the next two cards combined. The growth is concentrated in Southeast Asia, Africa, and Latin America where stablecoins serve as primary savings vehicles.
The challengers are growing faster
Tria (+47.1%), KAST (+25.5%), and Karta (+24.1%) all outpaced RedotPay's +7.4% growth rate. On a smaller base, but the direction is clear — the market is diversifying. KAST's $80M Series A and $100M ARR trajectory makes it the strongest challenger to watch.
Non-custodial is winning on transactions
ether.fi processed 842K transactions in April — more than KAST and RedotPay combined by transaction count. Lower average transaction size ($80–100 vs $700+ for custodial) but far more frequent usage. This is the consumer spending pattern, not the capital movement pattern.
Ready is the only loser
Ready dropped -21.7% in May — the only card in the red. Despite strong features (0% FX, $800 free ATM withdrawals, metal card), it appears to be losing ground to higher-cashback competitors like KAST and ether.fi.
Frequently Asked Questions
What is the top crypto card by volume in 2026?
RedotPay is the top crypto card by volume in 2026, processing $445M in May alone — roughly 60% of all crypto card volume. It is a custodial card based in Hong Kong with 0% FX fees and up to 6% cashback.
Which crypto card grew fastest in May 2026?
Tria grew fastest in May 2026 at +47.1% month-over-month, reaching $22.9M. KAST was close behind at +25.5% ($93.9M) and Karta at +24.1% ($34.3M).
How much did crypto cards process in May 2026?
Crypto cards processed over $750M in total volume in May 2026 — a new all-time record. This represents massive growth from $607M in March 2026 and $187M a year prior.
What is the difference between custodial and non-custodial crypto cards?
Custodial cards (RedotPay, KAST) hold your crypto in their custody. Non-custodial cards (ether.fi, Gnosis) let you spend directly from your own wallet. Custodial cards are easier to use but require trusting a third party with your funds.
Which crypto card declined in May 2026?
Ready was the only card in the top 10 to decline in May 2026, dropping -21.7% to $5.6M. All other cards in the top 10 saw positive growth.
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