PANews reported on April 9th ​​that, according to The Block, monthly cryptocurrency card transaction volume reached $600 million in March, more than tripling from $187 million a year earlier. USDT has been the dominant settlement currency in this growth, accounting for the vast majority of cryptocurrency card transaction volume, consistent with its strong position in emerging markets such as Southeast Asia, Latin America, and Africa. However, USDT's market share is gradually shrinking, while USDC is gaining traction due to increased adoption in Western markets that value regulatory transparency and institutional backing.

The changing stablecoin composition of crypto card transactions can serve as a proxy indicator for observing shifts in geographic distribution and user demographics. The rise in USDC's share suggests that the user base is expanding beyond the traditional strongholds of USDT. USDT issuers have indicated plans to launch stablecoin products targeting the US market; if these products gain acceptance in the US, it could slow down or reverse the growth trend of USDC's share.