USDC, backed by dollars, now accounts for 58% of that volume, according to figures cited by a16z crypto. Dollar stablecoins displace euros in under two yearsCardholders made ~9 million purchases in July, compared with about 5. These cards allow holders to spend stablecoins anywhere a traditional card is accepted. At checkout, the crypto is converted into local currency, and the merchant receives an ordinary card payment. Users either hold stablecoins on-chain in self-custody or deposit them with the card issuer.