67% of Crypto Card Payments Processed by Optimism, Solana, and Base

67% of the quantity paid by crypto playing cards is settled on three networks: Optimism (OP), Solana (SOL), and Base. As of July, Optimism dealt with about 29% of the overall cost settlements, whereas Solana and Base accounted for roughly 19% every. Enterprise capital agency Andreessen Horowitz (a16z) disclosed this info, citing information from PYMNTS. At first of 2024, crypto card funds had been targeting the Gnosis chain, however the launch of new crypto card tasks has diversified the settlement networks. The share of Gnosis has decreased to about 2%. Crypto playing cards are designed to attach cryptocurrencies or stablecoins to present card cost networks, with settlements occurring on the blockchain chosen by the cardboard issuance program on the time of cost. Optimism holds the biggest share amongst single networks, whereas Solana and Base are tied for second place at 19% every. Each networks are additionally competing within the decentralized finance (DeFi) sector, with Base’s curated vault total value locked (TVL) not too long ago surpassing Solana at $1.62 billion.

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