Crypto card payments surge 230% YoY to $7.8B monthly

The monthly payment volume for cryptocurrency-linked debit and credit cards has increased by approximately 230% compared to last year, according to The Kobeissi Letter. The current monthly transaction value is now around $7.8 billion. The report attributes the rapid adoption of crypto cards to the growing use of stablecoins as a payment rail. Visa reportedly handles about 90% of all crypto card transactions through collaborations with on-chain companies such as Jupiter Global. Meanwhile, OKX launched a Mastercard-based stablecoin payment card in Europe earlier this year. Visa and Stripe subsidiary Bridge have also announced plans to introduce stablecoin cards in more than 100 countries.