PANews reported on November 26 that analyst @obchakevich posted on the X platform stating that as a cryptocurrency card issuer, Visa dominates with a monthly volume of $365 million. The analysis selected 13 representative cryptocurrency cards and concluded by calculating their on-chain transfer transaction volumes, card deposits, payments, and internal payment functions of card services. Among the 13 projects, there are as many as 10 related to Visa, while Mastercard has only 3. The main drivers of Visa's transfer transaction volume growth come from three payment projects: Rain Card, RedotPay, and Etherfi Cash, with a total transaction volume of $320 million.
The analyst stated that most projects launching crypto cards choose Visa because its issuance is simpler, operating costs are lower, and compliance risks are smaller. While Mastercard is reliable, it has stricter reviews and higher fees, resulting in fewer payment projects choosing it. It is worth noting that thanks to Rain, Visa has more crypto assets cards in the market.
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