Wirex Crosses $1B in Card Settlement at $92 a Transaction
Paymentscan now lists Wirex at $1.008B in cumulative onchain card settlement across 10,919,179 transactions and 106,320 addresses, measured from May 2025 to the partial month of September 2026. That works out to roughly $92 per transaction over the whole period.
Almost none of that total is old. Monthly volume sat in single-digit millions through January 2026, then jumped to $69.83M in February and has climbed since: $105.4M in March, $124.9M in May and June, $161.3M in July and $199.2M in August. The seven months from February to August carry the overwhelming majority of the cumulative figure. The jump lines up with Wirex completing its onchain settlement architecture in the first quarter of 2026, so the earlier months measure a pilot rather than a smaller version of the same thing.
A run rate and a cumulative total answer different questions
Wirex said in August that its BaaS arm had reached about $2B in annualised onchain card spend, which sits above the $1.008B that has actually settled to date. Both can be true at once, and the gap is the whole point of the distinction. An annualised run rate takes a recent month and multiplies it out: August at $199.2M annualises to about $2.39B. A cumulative total counts what has already happened.
For anyone comparing cards, that makes the run rate a statement about current pace and the cumulative figure a statement about accumulated usage. The first moves with one strong month. The second cannot be revised upward by a good August.
Transaction size points at everyday spending, not treasury movement
August ran $199.2M across 1,847,458 transactions and 59,648 active addresses: about $108 per transaction and roughly $3,340 per active address for the month, or around 31 transactions per address. That is a profile of frequent small purchases rather than occasional large transfers, which is what card rails would be expected to show if the cards are being used as cards.
The September figure of $83.91M covers only a partial month and should not be read against the full months around it.
Two limits belong with the numbers. Paymentscan marks the data as onchain only, so this counts settlement flows rather than every tap a cardholder makes, and Wirex settles on a hybrid model where legacy offchain volume clears later on Stellar while the onchain leg locks funds on EVM chains such as Base at authorisation. Volume that never touches the onchain leg is outside the measurement entirely. Batched settlements also mean the address count is not a user count, which matters most if the per-address figure is read as one person's monthly spending.
What the tracker does answer is whether balances are reaching merchants at scale through Wirex. It says nothing about the fees, regional availability or verification requirements on any individual card program built on those rails, and those are still what decide whether a given card suits a given user.
Sources: Paymentscan Wirex issuer data, Paymentscan issuer overview, X announcement.
