In this week’s Signals, I’m exploring the rise of stablecoin-powered cards: those Visa and Mastercard plastic (or metal or wood, or who knows what else) cards that directly make your stablecoins spendable in the real world.

Why Stablecoins (Briefly) and Why Cards?

Many like to say “stablecoins aren’t crypto,” but they are very similar. 

Stablecoins are steady-value digital currencies traded on public blockchains, like Ethereum; they bring the dollar onto the blockchain, combining fiat’s stability with crypto’s speed and programmability. Think of stablecoins as digital dollars that can zip worldwide in minutes, even when banks are closed. They’ve been around for a while as the boring workhorses of crypto trading, but recently, stablecoins have emerged as one of the most credible crypto use cases for real-world payments. 

Using stablecoins at checkout isn’t straightforward: Most merchants don’t accept crypto directly, and consumers still love their credit card rewards, fraud protections, and the convenience of swiping or tapping. Over the past year, the speed of announcements about stablecoins and cards has accelerated, with new companies and legacy giants announcing new capabilities. The idea is simple: marry the global acceptance of Visa and Mastercard (tens of millions of merchants, existing consumer habits) with the benefits of stablecoin rails (speed, 24/7 availability, lower costs). It’s like giving your credit card a crypto engine under the hood: all the performance upgrades, but you can still steer with a familiar wheel.

Meet the New Stablecoin-Powered Card Issuers