Crypto Card Spending Surges to New Record of $1.04 Billion

Crypto card spending set a new record in July, reaching $1.04 billion in monthly volume, according to PaymentsScan data cited on X by The Kobeissi Letter.

This represents a 16% increase from June and nearly a 200% surge from the same period last year, marking sustained growth in the platform's tracked data.

The majority of these purchases were funded with stablecoins, specifically USDT and USDC, which are widely used for instant settlement and global transactions.

Jupiter, a Solana-based trading platform, was credited with helping drive adoption through QR-based payments in over 60 countries, but its own card program processed only $424,000 in spend during July, down 70.4% from June due to the end of a cashback promotion.