Crypto Card Payments Hit Record High for Fifth Straight Month

Global cryptocurrency card payments have set a new record for the fifth consecutive month. According to data from Paymentscan, July saw a payment volume of $705.5 million, representing a 12.2% increase from the previous month.

This growth is attributed to an increasing use of cryptocurrencies in everyday transactions despite stagnant market trading volumes. RedotPay led the market with $382 million in payments, accounting for more than half of the total.

Ether.fi followed closely behind with $91.09 million, while Kast and Karta recorded $88.21 million and $51.25 million respectively. The use of cryptocurrencies for real-world transactions continues to rise, even as market prices remain rangebound.