Visa becomes the leading crypto card issuer with a monthly transaction volume of $365 million

According to ChainCatcher, analyst @obchakevich_ posted on X that as a crypto card issuer, Visa dominates the market with a monthly transaction volume of $365 million.

The analysis selected 13 representative crypto cards and drew conclusions by calculating their on-chain transfer volumes, card deposits, payments, and internal payment functions of card services. Among the 13 projects, as many as 10 are related to Visa, while only 3 are related to Mastercard. The main drivers of Visa's transfer volume growth are the three payment projects Rain Card, RedotPay, and Etherfi Cash, with a combined transaction volume of $320 million.

The analyst stated that most projects launching crypto cards choose Visa because it is easier to issue, has lower operating costs, and carries less compliance risk. Although Mastercard is reliable, its review process is stricter and fees are higher, so fewer payment projects choose it. Notably, thanks to Rain, Visa has more crypto cards in the market.