Crypto Card Payments Reach Record $12.5 Billion Driven by Stablecoins

Crypto card payments have surged to a record $12.5 billion in 2026, marking a 140% increase since the beginning of the year. This growth is primarily attributed to the rising popularity of stablecoins and the adoption of QR code payment systems. Jupiter Global's card product, Jupiter Spend, is among the offerings contributing to this trend, although its individual transaction volume remains modest compared to the overall market.

In July 2026, the industry witnessed a significant milestone as stablecoin card spending surpassed $1 billion in a single month for the first time, reaching $1.03 billion across more than 10 million transactions. Jupiter Spend, which launched in January 2026, allows users to deposit stablecoins like USDC or USDT through the Jupiter app on the Solana blockchain, converting them into a USD balance usable at over 150 million Visa merchants globally. In September 2026, Jupiter's card settlement volume was reported at $7.6 million, an 8% increase from the previous month.

The card's unique features include fee-free deposits of stablecoins via Solana and a cashback program that offers a base rate of 2%, which can be increased to 4% through referrals. The introduction of cashback incentives has notably boosted transaction volumes, particularly with the July milestone being driven by QR Pay adoption and cashback rewards. However, Jupiter's reliance on cashback raises questions about the sustainability of its transaction growth, as volumes were significantly lower prior to the introduction of these incentives.

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Source: KLEA News