Spending on stablecoin-backed cards grew between 105% and 106% over the past year, according to John Timoney, director of strategic partnerships at Rain, a payments infrastructure platform. The figure was revealed during a panel at Consensus Miami 2026 and reflects the exponential adoption of this type of financial instrument.
Rain operates as a principal member of Mastercard, which allows it to issue credit and prepaid cards on that network. The model does not seek to replace traditional payment networks, but rather to make stablecoin balances usable through existing infrastructure, which already connects hundreds of millions of merchants worldwide.
Stablecoin settlement enables operations during weekends and holidays, reducing idle capital by more than 40% in some cases. Traditional card programs typically need to pre-fund obligations with networks when banking rails are closed, a constraint that stablecoins can bypass by moving outside conventional banking hours.
Latin America is one of the fastest-growing markets. Timoney noted that stablecoin cards could reach double-digit percentages of total cards in some countries in the region in the short term. At the global scale, however, they still represent less than 1% of total card spending.
Source: https://consensus.coindesk.com/agenda/speaker/-john-timoney
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