Solana Stablecoin Card Spending Hits Record $141M in October, Up 7x in a Year
Solana stablecoin card spending reached a record $141.1 million in October, marking a sevenfold year-over-year increase and positioning the network closely behind Optimism in total volume.
Paymentscan data shows that stablecoin card transactions on the Solana blockchain reached a record-breaking $141.1 million in October. This achievement marks the fourth consecutive month of record highs for the network. The October figure represents a roughly sevenfold increase compared to the approximately $20 million registered during the same period last year, and is about 24% higher than September’s peak.
Card spending using stablecoins on Solana has climbed steadily throughout the year without major interruption. Volumes started at roughly $44.5 million in January, meaning totals have more than tripled over the course of ten months. Every single month of the year except June has established a new record, with August crossing the $100 million threshold.
KAST Accounts for Most of Solana’s Card Volume
An examination of monthly stablecoin spending by program reveals that growth remains heavily concentrated. Stablecoin neobank KAST dominates this distribution, having processed $100.4 million in October.
Programs utilizing Rain’s card infrastructure contributed the next largest portion of volume, adding another $31.66 million. Combined, KAST and Rain-issued cards made up 93% of Solana’s total card spending in October.
The remaining roughly $9 million was led by Avici at $2.28 million, followed by Tria with $1.84 million, other Bridge-issued programs at $1.65 million, and Solayer at $1.29 million. Wallet-native card activity remains modest, with Phantom Cash, MetaMask, and Solflare generating a combined total of only about $2 million.
Solana Sits $3.5M Behind Optimism
Across all blockchain networks, stablecoin card spending reached $938.2 million in October, bringing the market close to the $1 billion monthly milestone. Base maintained a large lead with $259.1 million, capturing roughly 28% of the total. Optimism secured second place with $144.6 million (15.4%), while Solana placed closely behind at $141.1 million (15%), trailing Optimism by just $3.5 million.
Together, those top three chains accounted for approximately 58% of all card spending last month. Arbitrum reported $86 million and Stellar recorded $74 million, while Polygon and Plasma reached $63.7 million and $49.5 million, respectively. The remaining 11 chains generated a combined $120.1 million.
A Narrow Gap, with Most of the Volume on One Program
The margin is tight enough that another strong month from KAST could shift the rankings. Because Solana has outperformed most competitors this year, Optimism will need to sustain its momentum to maintain its position.
At the same time, this heavy reliance on KAST creates significant vulnerability for the network. Should KAST’s volumes drop or its users migrate to a competing chain, Solana’s monthly totals would suffer a steep decline. No other program on the network comes close to replacing that volume; Avici, the largest card program outside of KAST and Rain, processed roughly 2% of KAST’s October volume.
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