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

67% of the amount paid through crypto cards is settled on three networks: Optimism (OP), Solana (SOL), and Base. As of July, Optimism handled about 29% of the total payment settlements, while Solana and Base accounted for approximately 19% each. Venture capital firm Andreessen Horowitz (a16z) disclosed this information, citing data from PYMNTS. At the beginning of 2024, crypto card payments were concentrated on the Gnosis chain, but the launch of new crypto card projects has diversified the settlement networks. The share of Gnosis has decreased to about 2%. Crypto cards are designed to connect cryptocurrencies or stablecoins to existing card payment networks, with settlements occurring on the blockchain selected by the card issuance program at the time of payment. Optimism holds the largest share among single networks, while Solana and Base are tied for second place at 19% each. Both networks are also competing in the decentralized finance (DeFi) sector, with Base's curated vault total value locked (TVL) recently surpassing Solana at $1.62 billion.

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