Once a fringe innovation known only to crypto enthusiasts, crypto cards have now emerged as a driving force behind a massive transformation in global consumer finance. With the market projected to skyrocket to $152.2 billion by 2031, these cards are no longer just a curiosity—they are fast becoming essential tools in the financial lives of millions.
From Niche to Norm
Crypto cards enable users to make everyday purchases—ranging from coffee and groceries to travel and online shopping—by leveraging their digital assets. Initially seen as a speculative concept, they now play a central role in how people across the globe manage and spend their wealth. According to recent research, nearly 1 in 10 Americans already use crypto cards, with adoption rates even higher in countries like Brazil, Portugal, and Slovenia.
The European Economic Area (EEA) is experiencing particularly explosive growth. A report from Nexo highlights a staggering 203.3% increase in total card transaction volume over the past year. In that time, users conducted tens of millions of transactions without selling their digital assets—leveraging collateralized credit lines instead.
Who’s Driving the Shift?
The surge in crypto card usage is being led by Gen Z, millennials, and high-net-worth individuals (HNWIs). Together, they contributed to a 72% year-over-year rise in crypto-backed borrowing via the Nexo Card. Notably, Gen Z accounts for 37.7% of total users, seeing the card as a seamless extension of their digital-native lifestyle. Millennials make up another 30%, while Gen X and baby boomers collectively account for the remaining 32%—a strong signal that this is not just a youth-driven trend.
Interestingly, user behavior varies by demographic. While younger users prefer debit-style spending directly from their crypto wallets, older users—especially HNWIs—opt for credit-backed models that allow them to leverage their assets without liquidating them.
A Shift in Spending Mentality
The Nexo Card’s chief product officer, Elitsa Taskova, emphasized that users no longer want to choose between their financial future and their current needs. “It’s empowering users to live fully without losing the potential of their assets,” she said. “Whether it’s art, travel, or supporting a loved one, crypto is now part of everyday life.”
Indeed, over the past year, more than 100,000 BTC and 750,000 ETH were preserved by users who opted to borrow against their assets rather than sell them. Transaction frequency has surged 324%, indicating that users are not only keeping their crypto—they’re spending with it more often than ever before.
Stablecoins: The Everyday Money of the Internet
One of the report’s most notable findings is the growing reliance on stablecoins for daily transactions. In 2024 alone, 65% of debit transactions with the Nexo Card were made using stablecoins. These assets, which are pegged to fiat currencies like the U.S. dollar, are being used for everything from supermarket runs to international travel.
As the report notes, stablecoins are evolving into the “everyday money of the internet“—trusted, accessible, and increasingly mainstream.
A Global, Generational Shift
This isn’t just about new technology—it’s a cultural and behavioral shift spanning generations and borders. What began as a “niche trend” has matured into a cross-generational financial movement, reflecting changing attitudes toward money, spending, and ownership in the digital age.
With crypto cards expected to reshape the way we spend, borrow, and manage wealth over the next decade, one thing is clear: the future of finance is already in your pocket.
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