Monthly transaction volume for crypto cards reached a record $406 million in November 2025, according to Castle Labs' research. Visa-linked stablecoin cards contributed significantly, with an annualized transaction volume of $3.5 billion. RedotPay, a stablecoin payment platform, surpassed $10 billion in annualized payment volume. Etherfi's non-custodial crypto card, Cash, plays a crucial role in this growth, accounting for about 50% of the protocol's revenue. It serves approximately 300,000 accounts and has nearly 70,000 active cards. The report suggests that onchain banks are evolving towards a neobank model, expanding into payments, savings, and lending.