Crypto cards, once seen as a niche innovation, are now significantly influencing everyday financial decisions, with the market expected to reach $152.2 billion by 2031.
Demographics Driving the Shift
Crypto cards, once considered a niche innovation, now shape everyday financial choices, with the market projected to reach $152.2 billion by 2031. These cards are used for everything from online purchases to daily payments and are reportedly used by nearly one in 10 Americans, and an even higher proportion of users in Brazil, Portugal and Slovenia.
According to a Nexo European Economic Area (EEA) card report, Gen Z, millennials and high-net-worth individuals (HNWI) of any age are driving this shift. In the past year, these groups contributed to an over 72% year-over-year increase in crypto-backed borrowing via the Nexo Card, which was particularly evident in the EEA, which saw a 203.3% surge in total card transaction volume.
During the year, more than 100,000 bitcoin ( BTC) and 750,000 ethereum ( ETH) were saved from being sold by using the Nexo Card’s collateralized credit line, while weekly card transaction frequency grew by 324%.
Elitsa Taskova, chief product officer at Nexo, said the study findings show that users now increasingly view the card as an everyday financial tool.
“Today, people don’t want to choose between their financial future and their present needs — and the Nexo Card reflects that,” Taskova stated. “It’s empowering users to live fully without losing the potential of their assets. Whether it’s art, travel, or supporting a loved one, crypto is now part of everyday life.”
Cross-Generational Use
As per the study’s data, Gen Zers account for 37.7% of users who view the crypto card as a “digital native extension of their lives.” Millennials rank second with approximately 30%, while Gen X and baby boomers collectively make up 32%. While younger users favor a debit-style spending model, older cohorts, especially the HNWI, generally lean toward credit-backed models.
The study concludes that crypto card spending is no longer a “niche trend,” but a “cross-generational, cross-border shift in behavior — from saving to spending, from holding to leveraging.”
Meanwhile, the study data also reveals that 65% of Nexo Card’s debit transactions in 2024 were made using stablecoins, indicating that a large portion of users are utilizing stablecoins for everyday purchases like groceries and travel. The report concludes that stablecoins have evolved into the “everyday money of the internet.”