TRON Handles 35% of $606M March Crypto Card Volume

PaymentScan data shows TRON captured 35% of crypto card payment volume in March as total spending reached $606 million, with Visa processing roughly 90% of transactions. The March figures imply roughly $600 million in monthly crypto card spending, about a 500% increase since September 2024.

Visa processed most transactions through partnerships with crypto-native infrastructure providers rather than traditional sponsor banks. The company plans to expand its Bridge stablecoin card program to additional regions through 2026. Card spending in March was concentrated across a small number of networks: TRON accounted for 35% of volume, BNB Chain 15%, and the remainder was split across smaller chains.

Messari’s Q1 2026 report shows TRON processed roughly $2 trillion in USDT transfers during the first quarter, with USDT representing 98.6% of stablecoins on the network. TRON’s three-second block times and resource-based fee model make transfers fast and inexpensive enough to work at point-of-sale terminals. In April, TRON founder Justin Sun called stablecoins “the base rails for global value movement.”

Card data for March provides month-by-month evidence that stablecoin rails are being used for everyday spending rather than only for on-chain settlement. Fintech platform Kolo integrated TRON and processed more than $250 million in transaction volume, with about 30% executed directly on TRC-20 USDT rails. Those integrations show how on-chain stablecoin liquidity can be linked to consumer wallets and merchant payments.

Geography was a major factor in March volumes. Southeast Asia accounted for about 60% of global stablecoin payment volume during the period, and local crypto card issuance in the region increased about 83-fold between 2024 and 2025. In several markets, crypto cards serve as a primary financial access point where traditional banking is limited or costly.

Competition among issuers is reflected in rewards and product launches. A Solana-based Visa card from Jupiter Global offers 4% to 10% cashback by tier and recorded 660% month-over-month growth in April. New entrants such as KAST, Tria and the Solana-based Pengu Card have expanded the field; Pengu estimates its cards enable USDC and USDT payments at about 150 million merchants. USDC is gaining share in card transaction volume even as USDT continues to dominate on-chain stablecoin supply.

Industry observers describe crypto cards as a link between on-chain liquidity and consumer wallets, with stablecoins handling value transfer on chains and payment networks providing point-of-sale connectivity. Industry commentator Marty Party predicted that Visa-issued stablecoin cards on Apple Pay and Android Tap will onboard 10 million users before merchants adopt native stablecoin settlement.

March’s card volumes and network transfer data show increased use of stablecoins for consumer payments and growing activity around crypto-backed card programs.