Layer-1 blockchain developer Solayer launched a Visa-compatible payment card that allows users to spend USDC balances through in-store, online and contactless transactions.
The card supports ATM withdrawals in supported regions and can be ordered through the Solayer Pay app, according to the announcement. Existing users can request the card for free, while new users pay a $20 annual activation fee.
Source: Solayer Pay
Solayer Pay launched in April 2025 under the name Emerald Card and initially rolled out to 40,000 users across more than 100 countries, according to the company. Solayer said the new physical card expands the existing Solayer Pay platform, which supports storing, transferring and spending digital assets through Visa-linked payment infrastructure.
The company said the card enables users to spend USDC (USDC) balances globally through Visa payment infrastructure directly from their Solayer Pay accounts.
Solayer develops infiniSVM, a layer-1 network compatible with the Solana Virtual Machine that is designed for high-throughput onchain applications using Solana (SOL) for gas fees.
Related: Dartmouth endowment invests in Solana ETF, holds $14M in crypto exposure
Stablecoin payment cards expand
The launch from Solayer comes as rypto and payments companies have increasingly launched stablecoin-linked payment cards tied to traditional card networks including Visa and Mastercard.
In January, crypto exchange OKX launched a Mastercard-linked payment card for European users through regulated issuer Monavate, allowing verified customers to spend stablecoins, including USDC and Paxos' Global Dollar (USDG).
The following month, MetaMask expanded its Mastercard-linked crypto payment card across the United States, including New York for the first time, allowing users to spend digital assets directly from self-custodial wallets.
In March, Visa and Stripe-owned Bridge expanded their stablecoin-linked card program to 18 countries and said they planned to roll out the product across more than 100 countries by the end of 2026. The companies also began testing stablecoin settlement through Visa’s pilot program.
The same month, Mastercard agreed to acquire stablecoin infrastructure company BVNK in a deal valued at up to $1.8 billion. BVNK provides infrastructure for businesses to send and receive stablecoin payments across blockchain networks in more than 130 countries.
Data from DefiLlama shows the stablecoin market has grown from about $243.3 billion in May 2025 to around $322.5 billion today, an increase of about $79 billion.
Tether remains the dominant stablecoin issuer, with its USDt (USDT) commanding a market capitalization of about $189.7 billion, representing around 58.8% of the total stablecoin market, while Circle's USDC ranks second with a market capitalization of about $76.7 billion.
Source: DefiLlama
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