Wirex Hits $2B Annualized Card Spend as Wirex One Goes Live on Circle Arc
Wirex says July's more than $160 million in onchain card spend lifted its annualized BaaS run-rate to about $2 billion, days after the company outlined plans to move Wirex One card settlement infrastructure onto Circle's Arc network.
Wirex said its Banking-as-a-Service platform reached an approximately $2 billion annualized card-spend run-rate after processing more than $160 million in onchain card spend in July, a 28% month-on-month increase and a new high for the company. The August 1 milestone followed Wirex's July 22 announcement that it is bringing stablecoin banking and card-payment infrastructure to Circle's Arc network, with Wirex One planned as an early consumer-facing deployment. [1][3]
Together, the updates put Wirex at the center of 2026's fastest-moving stablecoin card infrastructure story. The company is not simply scaling a card app: it is trying to supply the settlement, issuance and account layer that other apps can embed, while extending that layer across Base, Stellar, Cardano and now Arc.
A $2 Billion Run-Rate, Not $2 Billion Settled
The headline number needs a careful reading. Wirex annualized July's monthly pace, so $160 million multiplied across 12 months produces roughly $1.92 billion, reported as approximately $2 billion. It is a vendor-reported run-rate, not an audited 12-month total or a measure of revenue, but July's observed monthly card-spend figure is still a material indicator of usage. [3][5]
Wirex said it first reached $1 billion in 131 days after the November 2025 BaaS launch, a pace it calls the industry's fastest. About 110 days later, it said the annualized run-rate had nearly doubled. The company also reported more than 1.7 million onchain transactions in July, up 13% from June, and more than 52,000 wallet addresses, up 11%. Both measures rose sharply from January. [3]
Wirex BaaS metric — January 2026 — July 2026 — Change disclosed by Wirex
Monthly onchain card spend — ~$7M — $160M+ — More than 22x; July was up 28% month on month
Onchain transactions — 8.6K — 1.7M+ — About 200x; July was up 13% month on month
Wallet addresses — 879 — 52K+ — More than 59x; July was up 11% month on month
The transaction and wallet figures matter because they show growth beyond a single headline volume number. They do not reveal active users, transaction sizes or unit economics, however, and Wirex has not published an independent audit of the July totals. The proper conclusion is high reported payment velocity, not a completed proof of profitability.
Arc Adds a Settlement Destination
Wirex's July 22 Arc announcement shifts the strategy from card issuance alone toward chain-specific payment plumbing. Wirex said card settlement, stablecoin movement and infrastructure for recurring payment activity are being expanded to Circle's Layer 1 network; Wirex BaaS partners will be able to build card, account and payment products on the Arc rails. [1]
For users, the intended surface is Wirex One. The planned scope is in-scope, non-US card flows settled in USDC and EURC, with Arc operating underneath the app rather than forcing a chain-selection exercise at checkout. That distinction is important: Arc's own announcement calls the integration a pre-launch spotlight, says product surfaces may arrive in phases, and gives no launch date or country list. The partnership is real, but the cited USDC and EURC settlement flows remain planned rather than completed. [2]
“What we built over eight years, we packaged and now we offer it as stablecoin card or stablecoin bank infrastructure to our builders.”
Pavel Matveev, Wirex CEO and co-founder, told Forbes. [4]
Matveev's formulation explains the contrast with Revolut in the same Forbes profile. He argues that legacy fintechs have existing banking rails to protect, while newer entrants can make stablecoin settlement native to the product. That is a strategic thesis, not a settled market outcome, but Arc supplies a purpose-built venue in which Wirex can test it with USDC and EURC card flows. [4]
Building Across Chains Rather Than Owning One App
Arc does not replace Wirex's earlier work. Wirex BaaS is already live on Base and Stellar, and its April partnership with Ultra Stellar launched a payment layer on Stellar's Soroban environment. Its partnership with SecondFi, built with Cardano ecosystem company EMURGO, brought a self-custodial Visa card to Cardano users. Wirex's July Q2 recap also said its Cardano Budget 2026 proposal had passed, funding open payment infrastructure for that ecosystem. [6][7]
That footprint now spans a consumer app in Wirex One, APIs for partners, and payment infrastructure on several chains. Wirex says it has more than 300 active partner discussions, with BingX, EVEDEX and Crossmint among integrations already cited by the company. The Crossmint connection is consequential because it joins programmable wallet infrastructure directly to Wirex card issuance, reducing the work a fintech must do before offering a stablecoin-funded card. [4][8]
July 2026 program measure — Reported figure — What the figure measures
Wirex BaaS — ~$2.0B annualized — July card-spend pace annualized, based on $160M+ July onchain spend
KAST — $253M — Onchain card top-ups, a funding measure rather than card spend
RedotPay — $514M — Onchain card top-ups, a funding measure rather than card spend
The comparison illustrates why Wirex's position is distinct, not why the programs are directly interchangeable. KAST centers a custodial, single-app experience; RedotPay operates a more vertically integrated consumer stack; and MetaMask Card emphasizes self-custody but is EVM-oriented. Wirex is selling the layer beneath multiple branded experiences, including a self-custodial Cardano partner product, Stellar-native infrastructure, Utorg's app and the planned Arc rollout. The KAST and RedotPay figures are top-ups, not settled card spend, so they should not be treated as a like-for-like league table. [6][9]
The Test Is Recurring Payment Use
Wirex's best evidence so far is velocity: $160 million-plus of July onchain card spend, 1.7 million-plus transactions, and a run-rate that it says doubled quickly after the first billion-dollar milestone. Arc offers the next test: whether that activity can be settled repeatedly in USDC and EURC through a network designed around predictable financial operations.
If Wirex converts partner discussions into live programs, it could become the multi-chain BaaS layer behind a meaningful share of stablecoin cards. If the Arc rollout remains limited by regional availability, partner readiness or product requirements, the company will still have a growing card business but a less proven network thesis. For now, the $2 billion figure is a strong vendor-reported marker of momentum, while the Arc partnership is a roadmap for turning that momentum into reusable settlement infrastructure.
References
[1] Wirex, "Wirex x Arc is official," July 22, 2026. https://x.com/wirexapp/status/2079963438215041071
[2] Arc, "Arc x Wirex: card settlement infrastructure on Arc," July 22, 2026. https://community.arc.io/public/blogs/arc-x-wirex-card-settlement-infrastructure-on-arc-2026-07-22
[3] Wirex, "We've reached approximately $2B in annualised card spend volume," August 1, 2026. https://x.com/wirexapp/status/2083491713268752679
[4] Boaz Sobrado, Forbes, "Banking Is Becoming A Stablecoin: Wirex's Bet Against Revolut's Rails," July 22, 2026. https://www.forbes.com/sites/boazsobrado/2026/07/22/banking-is-becoming-a-stablecoin-wirexs-bet-against-revoluts-rails/
[5] Aleksandar Dukic, SpendNode, "Wirex Hits ~$2B Annualized Card Spend, Doubling in 110 Days," August 1, 2026. https://www.spendnode.io/blog/wirex-2b-annualized-card-spend-august-2026/
[6] Wirex, "Q2 made the next chapter of Wirex much more visible," July 6, 2026. https://www.instagram.com/p/DaSQEUpja5z/
[7] Wirex, "Wirex and Ultra Stellar Launch Native Payment Infrastructure on Stellar," April 2, 2026. https://www.wirexapp.com/post/wirex-and-ultra-stellar-launch-native-payment-infrastructure-on-stellar
[8] Yahoo Finance, "Stablecoin banking is becoming a market," July 28, 2026. https://finance.yahoo.com/m/e43f7a40-cc8e-33f0-9874-86d9c036f0/stablecoin-banking.html
[9] KASTxyz, "Stablecoin topups cross $1B in monthly volume for the first time ever," August 7, 2026. https://www.linkedin.com/pulse/stablecoin-topups-cross-1b-monthly-volume-first-time-ever-kastxyz-dswce