Visa Crypto Card Spending Soars 525% in 2025 Across Six Programs

TLDR

• Visa crypto card spending increased by 525 percent during the year 2025.
• Total spending rose from 14.6 million dollars in January to 91.3 million dollars in December.
• EtherFi led all six programs with 55.4 million dollars in total card transactions.
• Cypher ranked second with 20.5 million dollars in crypto card spending across the year.
• GnosisPay, Moonwell, Avici Money, and Exa App recorded smaller but steady volumes.

Visa crypto card usage surged throughout 2025 as tracked programs saw spending jump from $14.6 million to $91.3 million, reflecting steady consumer growth and rising integration of crypto in daily financial transactions across six programs powered by Visa’s network.

EtherFi Tops Visa Crypto Card Usage

Visa-linked crypto cards issued under EtherFi dominated the market by recording the highest transaction volume across the year. Spending on EtherFi’s card reached $55.4 million, making it the top performer among the six tracked providers.

This total represented over half of the combined $91.3 million spent via Visa crypto card programs by December 2025. The EtherFi program maintained a consistent lead every month, confirming strong user engagement and repeat activity.

Its performance exceeded all other programs, suggesting higher adoption or stronger incentives tied to EtherFi’s product. The program’s performance was tracked using data compiled by Dune Analytics over the twelve-month period.

Visa supported EtherFi through its network infrastructure, which allowed cardholders to spend assets directly in real-time. By December, EtherFi’s dominance in usage remained clear compared to other decentralized finance initiatives on the list.

Cypher Secures Second Place in Transaction Volumes

Cypher followed EtherFi as the second-largest contributor to total Visa crypto card spending in 2025. The card program facilitated $20.5 million in transaction volume across the calendar year.

Its growth remained steady but trailed EtherFi by a wide margin, showing different levels of market engagement. Cypher issued its Visa-linked card through its own payments platform, which enabled easy spending for crypto users.

The monthly rise in card use from January through December reflected user trust and platform reliability. Visa’s global infrastructure ensured consistent performance, helping Cypher process crypto payments across various regions.

Though behind EtherFi, Cypher remained ahead of the four other programs included in the analytics report. The data placed Cypher firmly in the second spot with a considerable transaction lead over the rest.

GnosisPay, Moonwell, Avici, and Exa Round Out the List

The remaining Visa crypto card issuers posted lower transaction volumes but contributed to the year’s 525% overall growth. GnosisPay, Moonwell, Avici Money, and Exa App maintained activity yet recorded modest spending compared to EtherFi or Cypher.

Each of these platforms participated in Visa’s expanding crypto-linked card ecosystem throughout 2025. Though individual figures remained smaller, their collective participation drove broader user access to crypto spending options.

Polygon researcher Alex Obchakevich commented that rising transaction data highlights deeper integration of crypto into Visa’s systems. He posted on X that cryptocurrencies and stablecoins are now part of routine financial activity for many users.

Visa supported this shift by extending stablecoin infrastructure across Ethereum, Solana, Avalanche, and Stellar blockchains. In December, Visa launched a stablecoin advisory team to assist partners in building crypto payment products.

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