Onchain cards now count more than 160K monthly active addresses, up from near zero in early 2023.
Two issuers hold most of that →
@raincards at 54% and
@wirexapp at 33% of active addresses, roughly 87% between them, and both leaders onboarded on
@arc.
The demand side isn't the question, so the next natural step is looking for Arc's enablement of stablecoins' mobility.
It launched with local stablecoins beyond USDC, KRW1, JPYC, BRLA, MXNB and wARS, plus a native FX engine in StableFX, so a balance does not have to be dollars.
Morpho is live, so the idle balance can earn inside the spend app.
@PulsarMoneyApp supplies the Arc-native account and
@moonpay the on-ramp.
Something to note is that this is where the users are, not yet where their spend settles. Those addresses still transact on the issuers' existing chains, and Arc isn't in the settlement ranking yet.
@base is still where majority of transactions settle on.
We think it will be fascinating to track the activity flows of the non-USD stablecoins on Arc, which could set a precedence to how future venues transact.