Payment volume processed on crypto cards climbed to a record $12.5 billion, an increase of 140% year-to-date, according to data from paymentscan.xyz first shared by The Kobeissi Letter. The total also stands 247% higher than the levels recorded in October 2025.

According to The Kobeissi Letter, the surge is being driven by the growing use of stablecoins as a payment rail, as well as a broader push toward cheaper and faster cross-border transactions. For readers tracking adoption beyond market prices, the figures offer a concrete measure of crypto being used for everyday payments rather than trading alone.

BREAKING: The total volume of payments processed on crypto cards has reached a record $12.5 billion, up +140% year-to-date. This also marks +247% growth compared to levels seen in October 2025. Continued adoption of stablecoins as a payment rail and the push toward cross-border… pic.twitter.com/8AMiahkD0F
— The Kobeissi Letter (@KobeissiLetter) October 6, 2026

QR-code payments represent another bright spot in the latest figures. Demand for QR-based spending helped push the number of activated cards on Jupiter Spend, one of the largest on-chain card providers, up 55% quarter-over-quarter — a sign that consumer interest is translating into active card use.

"Crypto cards are the next phase of crypto adoption," The Kobeissi Letter said.

The record figures arrive as major players continue to move deeper into the crypto card space, with new products rolling out across the industry. Earlier this year, Fold Holdings (NASDAQ: FLD) announced that it had started issuing its Fold Bitcoin Credit Card to select waitlist members, with wider access rolling out in batches over the coming weeks and months.

The card runs on the Visa network, is powered by Stripe Issuing, and is accepted at 175 million merchants. It offers a base rate of 1.5% back in bitcoin, a reward that can rise to as much as 4% through behavior-based boosts and partner offers. Cardholders who pay their bill in bitcoin earn an additional 0.5% back.

Aven, for its part, has taken a different approach to the market. Its Aven Bitcoin Visa Card, unveiled at the Bitcoin Conference 2026 in Las Vegas, allows holders to borrow up to $1 million against their bitcoin without selling it, with rates starting at 7.99% APR and repayment terms of up to 10 years. Collateral is held by BitGo, while the card itself is issued by Coastal Community Bank. Taken together, the two products highlight the distinct routes issuers are taking into consumer finance — rewarding everyday spending with bitcoin on one hand, and unlocking liquidity against holdings without requiring a sale on the other. With Fold's wider access still rolling out in batches and stablecoin-driven volumes setting records, the pace of card-based adoption is one to watch as more products reach users.

This article first appeared on Bitcoin Magazine and is written by Mathew Di Salvo.