Analysis: Visa's crypto card net expenditure soars by 525% in 2025, consumer payments are just the beginning

Odaily Planet Daily reports that Onchain Research Director Leon Waidmann posted on the X platform that the expansion of crypto payments has exceeded most people’s expectations. According to Dune Analytics data, Visa crypto card spending grew by 525% in 2025, with net expenditures increasing from $14.6 million to $91.3 million.

He believes that consumer payments are just the beginning, and a larger shift is coming from the enterprise side. Companies are managing payments and collections on-chain, seamlessly converting between cryptocurrencies and fiat currencies, operating on-chain treasuries, and generating yields from idle balances. Data confirms that cryptocurrencies are being used for actual payments rather than just trading; card payments eliminate friction and reduce complexity, and on-chain balances are increasingly resembling money. Cryptocurrencies are shifting from an alternative to the financial system to its foundation.