Stablecoins
Crypto Card Payments Reach $12.5 Billion Amid Stablecoin Adoption
Payment volume processed on crypto cards has reached an all-time high of $12.5 billion, marking a 140% increase year-to-date, according to data from paymentscan.xyz shared by The Kobeissi Letter. This figure represents a 247% growth compared to levels recorded in October 2025.
The surge in crypto card payments is largely attributed to the increasing adoption of stablecoins as a preferred payment method, alongside a broader push for cheaper and faster cross-border transactions.
QR-Code Payments and New Card Offerings
QR-code payments have also seen significant growth, with a 55% increase in activated cards on Jupiter Spend, one of the leading on-chain card providers. The Kobeissi Letter noted that crypto cards are becoming a critical phase in the evolution of crypto adoption.
Major players in the crypto card space are expanding their offerings. Fold Holdings has begun issuing its Fold Bitcoin Credit Card, which operates on the Visa network and is accepted at 175 million merchants. The card provides a base rate of 1.5% back in bitcoin, with potential boosts up to 4% through various offers. Additionally, Aven has introduced its Aven Bitcoin Visa Card, allowing users to borrow against their bitcoin holdings without selling, with rates starting at 7.99% APR.
Phemex Card Enhances Everyday Spending
In a related development, Phemex has launched a new card that simplifies everyday spending by allowing users to spend directly from their spot account without needing to pre-load funds. This card supports Apple Pay and Google Pay and is currently available to eligible residents of the European Economic Area.
The Phemex Card offers cashback rewards in USDT, which are credited directly to the user's spot account, making it easier to manage funds. Standard users earn 0.25% cashback, while VIP users receive 1%, with no monthly cap on rewards.
This innovative approach addresses the common issue of managing multiple balances, making it a practical solution for users who already hold stablecoins on the Phemex exchange.
FAQ
What is the total payment volume processed on crypto cards as of now?
The total payment volume processed on crypto cards has reached an all-time high of $12.5 billion.
What factors have contributed to the growth of crypto card payments?
The growth in crypto card payments is largely attributed to the increasing adoption of stablecoins as a preferred payment method and a broader push for cheaper and faster cross-border transactions.
What new offerings have been introduced by major players in the crypto card space?
Major players like Fold Holdings and Aven have introduced new cards, including the Fold Bitcoin Credit Card, which offers cashback in bitcoin, and the Aven Bitcoin Visa Card, which allows users to borrow against their bitcoin holdings.
What features does the Phemex Card offer for everyday spending?
The Phemex Card allows users to spend directly from their spot account without pre-loading funds, supports Apple Pay and Google Pay, and offers cashback rewards in USDT.
How much cashback can users earn with the Phemex Card?
Standard users earn 0.25% cashback, while VIP users receive 1%, with no monthly cap on rewards.