16 hours ago
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Stablecoin-based payment cards are emerging as one of the defining themes of the cryptocurrency landscape in 2026, according to a senior executive at crypto venture capital firm Dragonfly Management. The prediction comes amid a surge in investment and adoption activity around stablecoin payment infrastructure.
In a post on X (formerly Twitter), Haseeb Qureshi, a managing partner at Dragonfly, said stablecoin-powered cards are “growing like crazy, everywhere in the world” and represent a broader trend in which crypto becomes more deeply integrated into global payment flows.
This comes as stablecoin transactions reached new heights, fueled in part by the US’s favorable policy under President Donald Trump, who is a proponent of cryptocurrency. Total stablecoin transaction volumes soared 72% to $33 trillion, according to data compiled by Artemis Analytics Inc.
Qureshi acknowledged Rain as one of the fastest-growing fintechs worldwide
Qureshi’s comments on X stemmed from Rain’s announcement that it raised $250 million, bringing its valuation to $1.95 billion. In his post, he even referred to Rain as one of the fastest-rising fintech companies globally. The company is among many startups utilizing stablecoins to enhance payments with faster settlement, lower costs, and broader international access.
Currently, it enables partners to issue stablecoin cards through the Visa network. Cardholders can buy and withdraw money, as well as access fundamental banking services, enabling the fintech to provide financial services in regions where local currencies are unreliable. As of now, the company has rolled out cards with valid acceptance in more than 150 countries, supporting stablecoins such as Tether (USDT) and USDC on several blockchain networks.
Qureshi noted, “For many Rain users, especially in emerging markets, they don’t even know that it’s crypto under the hood. All they know is that all of a sudden, they can pay people and buy stuff in dollars, any time, anywhere, and it all “just works.”
Dragonfly participated in Rain’s latest funding round alongside ICONIQ, Sapphire Ventures, Bessemer, Lightspeed, and Galaxy Ventures. Rain Co-Founder and Chief Executive Officer Farooq Malik explained that the funding means “having more resources to be able to submit and proactively engage with regulators to get licenses up and running as part of our continuous global expansion.” The firm will thus focus on growing its footprint across the Americas, Europe, Asia, and Africa while keeping pace with shifting global regulations.
Mohnot says stablecoins lack exclusivity and incentives like rewards
According to Bloomberg Intelligence, stablecoin payments are projected to grow at a compounded annual rate of 81% and reach $56.6 trillion by 2030. However, despite the hype and model projections, some analysts remain unconvinced. Better Tomorrow Ventures GP, Sheel Mohnot argues stablecoin payments fall short of the incentives that have historically fueled card adoption.
He remarked, You can’t build a new payment network without exclusivity or a compelling forcing function (rewards, credit), the inertia of the status quo is too strong. And the current card-based system for point of sale isn’t actually broken for most merchants and consumers in developed markets.”
Nonetheless, Pantera Capital investor Mason Nystrom insists that stablecoin payments will offer immediate payouts and stronger merchant protections, arguing that they will dominate the fintech sector.
Meanwhile, the US enactment of the GENIUS Act, the stablecoin legislation, has spurred regulatory activity, prompting Canada and the UK to advance their own frameworks. Additionally, institutional adoption is growing, as Western Union plans to roll out a stablecoin settlement system on Solana and a stablecoin card for emerging market consumers in early 2026.
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