Analysis: Visa Crypto Card Net Spending Soars 525% in 2025, Consumer Payments Are Just the Beginning

Odaily Onchain Research Director Leon Waidmann posted on platform X, stating that the expansion of crypto payments is happening faster than most people expected. According to Dune Analytics data, Visa crypto card spending grew by 525% in 2025, with net spending increasing from $14.6 million to $91.3 million.

He believes consumer payments are just the beginning, with a larger shift coming from the enterprise side. Enterprises are managing payments and collections on-chain, seamlessly converting between cryptocurrency and fiat currency, operating on-chain treasuries, and generating yield from idle balances. The data confirms that cryptocurrency is being used for actual payments, not just trading. Card payments eliminate friction and reduce complexity, and the performance of on-chain balances is increasingly resembling that of money. Cryptocurrency is transitioning from an alternative to the financial system to becoming its foundation.