Bitcoin in plastic: Why crypto cards are gaining popularity

​Revolut’s launch of a physical crypto card with an LED display may look like just another marketing accessory at first glance. However, it fits into a broader trend: crypto cards are becoming an increasingly visible product for exchanges, fintech companies and crypto wallets. These cards are turning into one of the main bridges between blockchain and everyday payments.

Revolut and the growing popularity of crypto cards

On May 18, fintech company Revolut introduced a physical debit card with an LED display that lights up during contactless payments. It is a familiar plastic card that operates within the Visa and Mastercard infrastructure. It can be used at merchants that accept regular bank cards, while crypto assets are converted into fiat at the exchange rate at the time of the transaction.

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The creation of such a product is no coincidence. In March alone, the monthly volume of crypto card payments reached $600 million, compared with $187 million a year earlier, meaning it more than tripled. In recent weeks, the number of daily transactions has repeatedly exceeded 100,000.

This growth is linked to the spread of crypto debit and prepaid cards, which allow users to spend digital assets without separately withdrawing funds to a bank account. For users, this means fewer intermediate steps before making a payment.

Who needs crypto cards and why

Demand for crypto cards is growing not only because they make payments more convenient. For exchanges, fintech companies and wallets, this is a way to become more deeply embedded in users’ everyday financial habits. If a person can not only store assets on a platform but also pay for purchases with them, withdrawing funds becomes an optional step.

For users, the main use case is tied to the liquidity of digital assets. Crypto cards make it possible to use funds that are already within the crypto ecosystem more quickly: for example, trading income, stablecoin transfers or savings in digital assets. This is especially relevant in markets where access to banking services is limited and dollar stablecoins are used as a more convenient store of value.

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This is why stablecoins dominate card settlements. According to The Block, USDT remains the main settlement currency in this segment, which is linked to Tether’s position in Southeast Asia, Latin America and Africa. At the same time, USDC’s share is gradually increasing in Western markets, where regulatory clarity and institutional support matter more for issuers and users.

A new wave of initiatives

Growing interest in crypto cards is visible not only in the number of transactions but also in the number of new launches. Such products are increasingly being issued by crypto exchanges, fintech companies, wallets and traditional payment players, each using cards for different purposes: some to retain users, others to develop stablecoin payments, and others to enter new markets.

For example, crypto exchange Bitbank recently launched the EPOS Crypto Card for Bitbank Visa card in Japan together with EPOS Card, the fintech arm of Marui Group. The company calls it the country’s first service that allows users to settle credit card payments directly from their balance on a crypto exchange. For now, this option is available only for bitcoin, but cardholders can also receive cashback in cryptocurrency — BTC, ETH or Astar.

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Another example is MoonPay, which introduced the MoonAgents Card. It is a virtual Mastercard debit card that allows users to spend stablecoins directly from on-chain wallets. Unlike most existing crypto cards, the product is designed not only for people but also for AI agents: such systems can already manage wallets, execute trades and move funds on the blockchain, but they need a familiar payment interface to pay for goods and services.

Western Union is also approaching the crypto card theme. The company is preparing to launch the dollar stablecoin USDPT on Solana, which it plans to use not as a consumer asset but as a tool for settlements with its agents. In addition, Western Union wants to develop its Digital Asset Network and later issue the USD Stable Card in dozens of countries so that users can store money in stablecoins and spend it through a familiar card-based model.

Prospects and limitations

Despite growing volumes and the number of new launches, crypto cards remain a hybrid product. On the user’s side, there may be bitcoin, USDT, USDC or another digital asset, but on the output side, most often there is standard card infrastructure with issuers, payment networks, identity verification and the rules of specific jurisdictions. Therefore, such cards do not eliminate intermediaries; rather, they embed cryptocurrencies into the existing financial system.

This approach has its limitations. A conversion fee may apply during payment, and the exchange rate is fixed at the time of the transaction. In some countries, spending cryptocurrency may be considered a taxable event, because the user is effectively selling an asset to pay for a purchase. In addition, card availability depends on the region, the provider’s licenses and KYC requirements.

At the same time, the product’s prospects are largely connected not with bitcoin but with stablecoins. For everyday payments, they are more convenient than volatile assets, because they allow users to store value in dollar form and use it more quickly in payments. In developing markets, this may serve as an alternative to unstable national currencies or less accessible banking services, while in Western markets it may become part of regulated fintech infrastructure.

Ultimately, crypto cards are unlikely to become a “pure” embodiment of the idea of bitcoin payments. But it is precisely the hybrid model that makes them practical: users do not need to wait for merchants to start accepting cryptocurrency directly if a card already allows them to use digital assets within a familiar payment network.