Crypto card spending hit a monthly record, with stablecoin-funded purchases climbing to $1.03 billion, or $1.04 billion in supplementary reporting based on PaymentsScan data. PaymentsScan, an on-chain analytics platform that tracks card activity across dozens of issuers, reported that the figure was up 16% from June and nearly 200% from a year earlier.
More than 10 million individual purchases were logged in July alone, according to PaymentsScan data cited on X by The Kobeissi Letter. Just three years ago, PaymentsScan’s tracked monthly volume was roughly $1 million. The climb from $382 million in August 2025 to more than $1 billion in July 2026 marks sustained growth in the platform’s tracked data.
BREAKING: Monthly stablecoin card spending volumes surged another +16% in July, to a record $1.03 billion.
This marks +200% year-over-year volume growth with over 10 million purchases made during July.
The growth has comes amid surging demand for instant settlement and global… pic.twitter.com/EDksW62jAq
— The Kobeissi Letter (@KobeissiLetter) August 11, 2026
Where the Billion Dollars Came From
PaymentsScan tracks card issuers across Ethereum, Solana, Base, Tron and Polygon, spanning providers including RedotPay, KAST, Gnosis Pay, Wirex and Rain-issued cards.
A supplementary report from Bitcoin World, put July spending at $1.04 billion. The report said USDT and USDC were the dominant stablecoins used for such payments, while noting that an exact breakdown by network was not disclosed. The figures point to digital dollars as a major funding source for crypto-card purchases.
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Instant Settlement Is a Key Feature
Stablecoin cards can offer near-instant settlement and access for users without a local bank account. As more regional issuers launch and stablecoins continue settling faster than multi-day card networks, PaymentsScan’s tracked monthly volume has continued to rise.
The original PaymentsScan-sourced report also credited Jupiter, the Solana-based trading platform, with helping drive adoption through QR-based payments in more than 60 countries, adding that 68% of volume came from non-US users. Jupiter’s card program supports fee-free QR Pay in parts of Asia and fiat remittance across more than 50 countries.
One Crypto Card Issuer’s Numbers Complicate the Narrative
On-chain settlement data independently tracked by SpendNode showed Jupiter’s card processed $424,000 in spend during July 2026, down 70.4% from June’s $1.4 million and representing a fraction of one percent of the industry-wide total. SpendNode attributed the drop to the end of Jupiter’s cashback promotion on July 1, when its reward rate fell from a launch-era 4% to a standard 2%.
Crypto-card payment volume grew at a 106% CAGR (compound annual growth rate) from January 2023 to August 2025, nearly catching up with P2P stablecoin payments.
Here’s what happened this week ↓
• @raincards | Rain launched the Agentic Payments Alliance with Visa, Mastercard,… pic.twitter.com/ifzgoS0oP8
— DeFi Warhol (@Defi_Warhol) August 24, 2026
That does not mean Jupiter’s payments infrastructure is irrelevant, but it indicates that its branded card was not the primary engine behind July’s record. Any single issuer’s share can shift as promotions start and end, making the industry-wide trend a more useful measure than one platform’s role.
PaymentsScan projected monthly stablecoin-card volume above $1.5 billion by year-end if the current trend holds, consistent with the roughly 200% year-over-year pace recorded so far. The data is subject to change as source information is updated or revised, and differing methodologies and coverage can produce different totals.
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