MEXC Launches Global Visa Card as Monthly Crypto Card Spending Hits $759 Million

MEXC has launched the MEXC Global Card, a Visa-backed solution allowing users to spend USDT via Apple Pay and Google Pay. This move arrives as crypto card spending reached a record $759 million in July, signaling a critical shift for fintech professionals as digital assets transition from speculative holdings to mainstream payment instruments.

What was announced

The launch of the MEXC Global Card marks a significant expansion for the cryptocurrency exchange as it moves into the retail payments space. The card is built on the Visa global acceptance network, ensuring it can be used at millions of merchant locations worldwide. A key feature of the offering is its integration with major mobile wallets, specifically Apple Pay and Google Pay, allowing eligible users to spend USDT directly from their accounts for daily transactions.

The timing of the launch coincides with a massive surge in the utility of digital assets. Data shows that crypto card spending reached a record $759 million in July, representing a 2.5x increase compared to the same period the previous year. Within this volume, stablecoins have emerged as the dominant medium of exchange, with USDC and USDT accounting for 84% of the total transaction volume. By embedding these digital assets directly into a payment card, the product aims to bridge the gap between traditional finance and the crypto ecosystem, positioning the exchange as a comprehensive financial platform rather than just a trading venue.

"the evolution of crypto exchanges into comprehensive financial platforms capable of competing with mainstream payment cards by embedding digital assets directly into daily transactions."

Vugar Usi, CEO at MEXC.

The companies involved

MEXC is a cryptocurrency exchange that has positioned itself as a player in the digital asset market by expanding its service suite beyond simple trading. The launch of its Global Card leverages the infrastructure of Visa, one of the world's largest payment technology companies. Visa operates a global network that facilitates electronic funds transfers throughout the world, and it has increasingly become a primary partner for fintechs and crypto firms looking to bridge digital currencies with the legacy banking system.

The integration also involves Google and Apple, two of the most influential technology companies in the financial services sector. Google, through its cloud and financial services solutions, provides the infrastructure for digital wallets, while Apple has established a dominant position in mobile payments via its hardware and software ecosystem. Both companies have become essential partners for card issuers seeking to offer contactless payment options. The collaboration between these entities highlights the growing intersection between traditional payment networks, big tech, and the cryptocurrency sector.

What FF News has reported before

FF News has extensively covered the expansion of card issuance and the evolution of the Visa network. Recently, we reported on how Visa, _able, and Onafriq Partner to Expand Visa Flex Credential Across CEMEA Markets, demonstrating the network's push into emerging markets. We also tracked infrastructure developments such as when REPAY Signs Reseller Agreement with Visa to Empower ISOs and ISVs with Direct Visa Platform Connect Access. Additionally, the trend of localized card services was highlighted when Nium Expands Global Infrastructure with Domestic Card Issuance Launch in the United States. These developments underscore a broader industry movement toward more flexible, globally accessible payment credentials.

What this means

The surge in crypto card spending to nearly $760 million suggests that the "crypto winter" narrative is being replaced by a "utility summer." For the fintech industry, the dominance of stablecoins—accounting for 84% of volume—is the most telling metric. It indicates that users are no longer treating crypto solely as a volatile investment but as a functional currency. Traditional banks and payment providers are now under significant pressure to integrate stablecoin support or risk losing transaction volume to exchanges that offer more seamless, borderless spending options. The question for the sector is no longer if crypto will be used for payments, but which network will capture the most volume.