Why payment infrastructure is the missing link in bringing stablecoins into everyday spending.
The Thredd team
Stablecoins continue to grow as a trusted digital value store, yet most usage still sits within crypto-native environments. In this interview, Jim McCarthy, CEO of Thredd, and Kevin Kang, Co-Founder of Reap, discuss the infrastructure needed to bring stablecoins into everyday payments through established card rails.
Stablecoins have expanded rapidly, with the market now exceeding US$140 billion in circulating supply. More than US$4.3 trillion in USDC flowed across blockchains in the last 12 months, showing strong demand for digital dollars across businesses and consumers.
However, most usage still remains within exchanges, wallets and institutional flows. Real-world spending is rare.
The next phase of progress is about giving users a simple way to spend stablecoins through the familiar experience of card payments. This means connecting digital value held on-chain with the global acceptance infrastructure already used by millions of merchants.
Stablecoin-funded cards make this possible. Users can hold value in a stablecoin and spend it anywhere cards are accepted. It removes the need for merchants to adopt new tools or acceptance flows. The transaction feels identical to a standard card payment.
To enable this, the funding, authorisation and settlement flows must support stablecoin behaviour. Processing platforms play a central role here. They translate a stablecoin balance into an approved card transaction while managing currency conversion, value checks and compliance requirements. This orchestration is essential for delivering the speed and reliability expected of card payments.
Supporting stablecoin-funded cards requires integrating blockchain-led value with the existing payment ecosystem. Stablecoins introduce new operating characteristics. Value resides on-chain rather than in a bank account. Funding sources may vary by chain, issuer or wallet type. Settlement timing differs from traditional fiat rails.
For the end user, none of this should be visible. Issuer processors must normalise these conditions so that the card behaves consistently and merchants see no difference at the point of sale.
Stablecoins also introduce meaningful advantages. They move quickly across borders, provide predictable value and reduce friction in liquidity movement. Many organisations already use stablecoins for treasury and supplier payments. Extending this into card programmes allows the same efficiency to be applied to consumer and commercial spending.
Stablecoins already influence global money movement. Visa reports that USDC and USDT represent more than 80 percent of stablecoin transaction volume worldwide, with strong adoption across Asia, Africa and Latin America. These regions benefit from faster settlement and easier access compared with correspondent banking networks.
A stablecoin-funded card significantly expands utility. Users can access the benefits of digital dollars while spending through established merchant networks. No changes are required at checkout. No new hardware or acceptance flows are needed.
As digital value becomes more common across blockchain networks, infrastructure must adapt. Platforms that can integrate new funding sources, new settlement paths and new compliance models without increasing friction will set the pace for global adoption.
Stablecoins are ready for broader use, but the real unlock is infrastructure. When issuer processing, partner connectivity and smart orchestration come together, stablecoins gain everyday utility. Cards become more flexible. Payment programmes become more global. Users gain more choice in how they hold and move value.
To find out more or discuss further with a member of the team click here.
Sources
Circle, USDC Transparency and Transaction Data (2025)
Visa, “The State of Stablecoins” Report (2024)
CoinMarketCap, Stablecoin Market Capitalisation (2025)
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