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Payment volume processed on crypto cards reached a record $12.5 billion, up 140% year-to-date, according to paymentscan.xyz data first shared by The Kobeissi Letter, Bitcoin Magazine reported. The figure is also 247% higher than levels recorded in October 2025.
The Kobeissi Letter attributed the rise to growing use of stablecoins as a payment rail and a push toward cheaper, faster cross-border transactions. The research account said crypto cards are the next phase of crypto adoption. Crypto Briefing and Crypto.news reported related figures from the same market.
Also readHyundai Card Tests Stablecoin Payments Between US and Mexico Subsidiaries
Key facts
- Industry-wide crypto card payment volume hit a record $12.5 billion, up 140% year-to-date and 247% above October 2025 levels.
- Activated cards on Jupiter Spend, described by Bitcoin Magazine as one of the largest on-chain card providers, rose 55% quarter-over-quarter on QR-code demand.
- Crypto Briefing reported Jupiter’s own card settlement volume was $7.6 million in September 2026, up 8% month over month.
- Crypto.news reported Visa said payment volume across more than 160 stablecoin-linked card programs grew nearly 200% year over year, with business and commercial programs at about 17% of fiscal 2026 volume to date.
- Visa also cited Allium research estimating stablecoin payment volume reached between $401 billion and $527 billion in the first eight months of 2026.
Jupiter’s slice is smaller than the headline number
Crypto Briefing drew a distinction the other reports did not: the $12.5 billion covers the whole crypto card market, and attributing it to Jupiter Spend alone is not supported by the data. Jupiter’s card launched in January 2026, and users deposit USDC or USDT through the Jupiter app on Solana. Those stablecoins convert into a USD balance spendable at more than 150 million Visa merchants, with no deposit fees via Solana and a foreign exchange fee of either 1% or 1.8% depending on the issuer. QR Pay allows fee-free payments in select Asia-Pacific markets, capped at $5,000 per day and $500 per transaction. Jupiter offers 2% base cashback, rising to 4% through referrals, and Crypto Briefing noted transaction volumes rose notably once a cashback promotion began.
Card issuers keep adding products
Bitcoin Magazine reported that Fold Holdings (NASDAQ: FLD) said earlier this year it had begun issuing its Fold Bitcoin Credit Card to select waitlist members, with wider access rolling out in batches. The card runs on Visa, is powered by Stripe Issuing and is accepted at 175 million merchants, offering 1.5% back in bitcoin, up to as much as 4% through behavior-based boosts, plus 0.5% extra for cardholders who pay their bill in bitcoin. Aven unveiled its Aven Bitcoin Visa Card at the Bitcoin Conference 2026 in Las Vegas, letting holders borrow up to $1 million against bitcoin without selling it, at rates starting at 7.99% APR and repayment terms of up to 10 years. BitGo holds the collateral and Coastal Community Bank issues the card.
Also readMastercard Launches Stablecoin Security to Screen Payments
Why it matters
Card programs move stablecoins from trading tools into everyday spending, putting them against merchants that already accept Visa. The scale differs sharply by player: Jupiter’s $7.6 million monthly settlement is a small share of the $12.5 billion industry total, so headline growth does not translate evenly to individual products. Visa’s 17% commercial share and the Allium estimates suggest business payments, not consumer retail, now carry much of the volume, though Crypto.news cautioned that Allium’s estimates are not Visa transaction totals and should not be compared directly with Visa’s figure.
What to watch
Visa and Stripe-owned Bridge, which announced in March that Bridge-powered stablecoin cards were live in 18 countries, plan to expand to more than 100 countries by the end of 2026, per Crypto.news. Jupiter’s reliance on cashback is another indicator to track, since Crypto Briefing flagged that volumes were lower before the promotion. Visa’s proposed settlement-file-triggered stablecoin lending model has no launch date across all programs.
Sources: Bitcoin Magazine, Crypto Briefing, crypto.news
