Crypto Cards: $1.17 Billion Spent in One Month
"There are three kinds of lies: lies, damned lies, and statistics," Mark Twain liked to repeat. The chart of crypto card payments circulating since October 6 does not lie. It just deserves to be read twice.
Indeed, The Kobeissi Letter reports $12.5 billion in payments made by crypto card, up 140% since January. The figure is accurate, but it adds everything that has been spent since the beginning of the survey, ensuring a record every morning. The monthly amount is more modest and much more telling, as stablecoin payment applications multiply, with OKX leading the way. Key points of this article:
- The cumulative amount of payments by crypto cards has reached $12.5 billion, but this figure includes all expenditures since the start of the tracking, guaranteeing a constant increase.
- In September, stablecoin-backed cards processed approximately $1.17 billion in transactions, marking a monthly record despite a slight decrease in active addresses.
Crypto Cards: $12.5 Billion in Payments, But Cumulative
Look at the title of the chart. It states "Total Stablecoin Card Payment Volume," which is the total volume of payments made by stablecoin cards. The source is PaymentScan, an analysis site that tracks about thirty card programs on the blockchain.
In its message from October 6, The Kobeissi Letter highlights two percentages, +140% since the beginning of the year and +247% compared to October 2025. The calculation is correct, as the bars go from $3.6 billion to $12.5 billion. None ever decrease, and a total that never goes down is a cumulative figure. Your odometer also breaks its record with every trip, without anyone thinking of issuing a press release. Cumulative volume of payments by crypto cards in stablecoins, from October 2025 to September 2026. Source: PaymentScan
Stablecoin Cards: $1.17 Billion Spent in September
The real thermometer is monthly. In September, stablecoin-backed cards (these cryptocurrencies pegged to a traditional currency) processed approximately $1.17 billion in purchases according to PaymentScan. This is the highest in the series.
Be careful what this amount covers. It is the expanded total, which adds off-chain data provided by card issuers to the visible flows on the blockchain. The strictly on-chain share is around $788.9 million. PaymentScan counts 11 million transactions in September, compared to 11.07 million in August.
The growth remains solid. No monthly figures are published for the end of 2025, but the gap between the bars on the chart gives a rhythm of about $0.5 billion per month at that time. This is a home calculation, not an official data. It is enough to say that the pace has more than doubled in less than a year.
The principle is simple. You pay with an ordinary Visa or Mastercard, your balance in stablecoins is debited, and the merchant receives euros or dollars without seeing any crypto. Three players dominate over thirty days: RedotPay ($401.9 million), Ether.fi (127.4 million), and KAST (113.1 million).
Looking for a crypto card? Before choosing yours, check our comparison of the 14 best crypto cards in 2026.
Crypto Card: Real Growth, Still a Tiny Scale
At Visa, crypto head Cuy Sheffield speaks of a phase of "hyper growth." So be it. At this rate, crypto cards weigh about $14 billion per year, or $1.17 billion multiplied by twelve, while Visa and Mastercard each process thousands of billions of dollars over the same period.
One detail tempers the enthusiasm. Active addresses slightly decreased in September, to 283,761 from 287,634 a month earlier, while amounts were increasing. Don’t read too quickly into this a loss of users. PaymentScan counts addresses and not people, and its counter is incomplete since RedotPay, the largest program, does not publish its figures.
The Kobeissi Letter finally cites a 55% increase over a quarter in activated cards at Jupiter Spend, driven by QR code payments. PaymentScan does not detail this figure.
The crypto card progresses by borrowing the rails of finance it was supposed to replace, and this is probably what makes it usable at the baker's. Its adoption will be read in monthly expenditures rather than in a total that inflates by itself. For now, they hold an average basket of about $107, the price of a full grocery shopping.
-- Price
This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.
You may also like

JPMorgan Now Offers Two Tokenized Money Market Funds on Solana

Overview of Cryptocurrency Asset Regulation Series (11): South Africa, From FSCA License to Cross-Border Reporting

Ethereum staking yield is losing to cash rates, so why are investors still lining up?

Turning Speculation into Business: Standard Reserve's Stock Liquidity Experiment

AI Security 'Black October'... "The Era of Hacking for Everyone Has Arrived"

Grok, ChatGPT, Claude: These AIs Trading Your Crypto While Banks Panic

Weekly Highlights | Gold Drops Below $4000 During Golden Week, a16z Crypto Renamed to a16z Frontier

Circle Shareholders and Sun Yuchen File Lawsuits Amid Ongoing Controversy Over Trump's Family Crypto Business WLFI

Fraud in Spain Reveals Money Laundering with Cryptocurrencies

The GENIUS Act Leaves Loopholes, Banks Warn of Potential $850 Billion Loan Shrinkage

AI and Chips: Washington Tightens the Noose on American Investments in China

Etherscan launches beta tool to detect address poisoning scams

How Has BTC Performed After Four Historical Midterm Elections?

$1.2 Billion in Trading Volume Over 5 Days, TVL Only $11 Million: Why Metric is Worth Watching?

The Past of Prince Group: $15 Billion in Bitcoin Frozen on the Chain

Tether Releases Voice Recognition Model for Local Use on Mobile and PC

Robinhood Chain Earns $51 Million in Fees in Three Months, While Ethereum Only Receives $69,000?

Ethereum Delays Test of Glamsterdam Update

Why Does the Crypto Market Still Need Options After Perpetual Contracts?

How to Reconstruct an Enterprise-Level AI Data Platform When Data Moves Towards Understanding?

Do Agents Really Need Blockchain Payments?

Is Predictive Market Really Useful Beyond Betting?

"Everyone has blown up"... A hundred traders, two liquidations on the same trade!

Former FTX Executive Slams Netflix's New Series: Turning Financial Fraud into a 'Romantic Film' is Absurd

RedStone Launches New FIL Price Feed on Filecoin for Apps

Closed DeFi Protocol: What Can Still Be Recovered

Bitcoin: According to Michael Saylor, it is better to hold it than to use it for purchases

Solana bot turns just $12,000 into $1.4 billion in trading volume as fake liquidity floods Raydium

Robinhood Wins Dubai License For Bitcoin, Stock Trading












