According to data from paymentscan.xyz (first shared by The Kobeissi Letter), the payment volume processed by crypto cards has surged to a record $12.5 billion, marking a 140% increase this year and up 247% from October 2025 levels. The Kobeissi Letter attributes this growth to the increased use of stablecoins as a payment channel and the push for cheaper and faster cross-border transactions. QR code payments are another highlight, with demand for QR code consumption driving a 55% month-over-month increase in the number of activated cards for Jupiter Spend, one of the largest on-chain card providers. Major players are also entering the crypto card space. Fold Holdings (NASDAQ: FLD) announced earlier this year that it has begun issuing the Fold Bitcoin Credit Card to select members on its waiting list. This card operates on the Visa network and is supported by Stripe Issuing, usable at 175 million merchants, offering 1.5% Bitcoin cashback, up to 4%. Aven has launched the Aven Bitcoin Visa Card, allowing cardholders to borrow up to $1 million backed by Bitcoin, with interest rates starting at 7.99%.