Crypto card payment volume has reached a record $12.5 billion, according to data from paymentscan.xyz that was first shared by The Kobeissi Letter. The figure is up 140% this year and 247% above the level recorded in October 2025. The Kobeissi Letter said the increase has been driven by heavier use of stablecoins as a payment rail and by demand for cheaper, faster cross-border transactions. QR-code payments are also gaining traction. That trend helped push activated cards on Jupiter Spend, one of the largest onchain card providers, up 55% month over month. At the same time, more companies are moving into the crypto card segment. Fold Holdings said earlier this year that it had started issuing its Fold Bitcoin Credit Card to some users on its waitlist. The card runs on Visa, is powered by Stripe Issuing, can be used at 175 million merchants, and offers 1.5% bitcoin cashback, rising to as much as 4%. Aven has also launched the Aven Bitcoin Visa Card, which lets cardholders borrow against bitcoin collateral for up to $1 million, with rates starting at 7.99%.
Crypto card payment volume has climbed to a record $12.5 billion, according to paymentscan.xyz data first shared by The Kobeissi Letter. The total is up 140% this year and 247% above the level seen in October 2025.
The Kobeissi Letter said the rise has been driven by increased use of stablecoins as a payment rail, along with demand for cheaper and faster cross-border transactions.
QR-code payments lift onchain card activity
QR-code payments were another standout. Demand for QR-based spending pushed activated cards on Jupiter Spend up 55% month over month. Jupiter Spend is one of the largest onchain card providers.
More firms enter the crypto card segment
Large players are also stepping into the crypto card business. Earlier this year, Fold Holdings (NASDAQ: FLD) said it had started issuing the Fold Bitcoin Credit Card to some members on its waitlist. The card runs on the Visa network, is powered by Stripe Issuing, can be used at 175 million merchants, and offers 1.5% bitcoin cashback, with rewards reaching as high as 4%.
Aven has also launched the Aven Bitcoin Visa Card, which allows cardholders to borrow up to $1 million against bitcoin collateral, with interest rates starting at 7.99%.
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