What once started as an experimental fusion of blockchain and finance has now evolved into a global shift in consumer behaviour. Crypto cards, digital or physical payment cards backed by cryptocurrency wallets are steadily transforming how people transact. According to recent findings, the crypto card market is projected to skyrocket to $152.2 billion by 2031, firmly placing itself in the mainstream financial ecosystem.
Increasingly used for daily spending, online purchases, and even international travel, these cards are no longer reserved for tech-savvy early adopters. Countries like the US, Brazil, Portugal, and Slovenia are reporting widespread adoption, with close to one in ten Americans now using crypto cards for regular transactions.
Demographics Fuel the Surge
A key driver of this transformation is generational demand. Gen Z and millennials are leading the way, supported by high-net-worth individuals (HNWIs) from all age groups. A European Economic Area (EEA) report by Nexo highlights that these demographics collectively spurred a 72% year-over-year increase in crypto-backed borrowing via the Nexo Card.
Notably, the EEA region witnessed a staggering 203.3% growth in overall crypto card transaction volume, showing Europe’s growing appetite for crypto-based financial tools. Instead of selling their crypto, users are leveraging it as collateral. In 2024 alone, over 100,000 Bitcoin and 750,000 Ethereum were kept intact through the Nexo Card’s credit line, allowing users to retain long-term holdings while meeting immediate expenses.
The study also reported a 324% increase in weekly card usage, indicating that users are treating these crypto cards as everyday financial instruments rather than novelty items.
A Financial Tool for Modern Lifestyles
According to Nexo’s Chief Product Officer, Elitsa Taskova, crypto cards are reshaping how people balance present spending and future investment. “Today, people don’t want to choose between their financial future and their present needs and the Nexo Card reflects that,” said Taskova.

The card gives users the ability to live fully, whether it’s funding travel, art purchases, or sending money to family without sacrificing their digital assets. This balance of liquidity and asset preservation reflects the shifting role of crypto: not just as an investment vehicle, but as an integral part of modern financial planning.
Generational Preferences: Debit vs Credit Models
The study reveals that Gen Z makes up the largest user segment, accounting for 37.7% of Nexo Card holders. These digital natives see the crypto card as a seamless extension of their online lives. Millennials follow closely behind with roughly 30%, while Gen X and baby boomers together represent 32%.
Interestingly, usage preferences diverge by generation. Younger users generally favour debit-style spending, aligning with instant-use and budget-conscious habits. In contrast, older and wealthier users tend to prefer credit-backed models that allow them to borrow against their crypto holdings without liquidating them.
This diversification in usage points to a broader acceptance across age groups and income levels, reinforcing the idea that crypto card adoption is not just generational hype, but a cross-demographic shift in financial behaviour.
Stablecoins: The New Everyday Currency
Another major finding of the study is the rise of stablecoins in daily transactions. In 2024, 65% of all debit purchases via the Nexo Card were made using stablecoins, cryptocurrencies pegged to fiat currencies like the US dollar or euro.

This data suggests that users now rely on stablecoins for routine purchases such as groceries, transport, and holidays. The report concludes that stablecoins have essentially become “the everyday money of the internet,” offering stability and speed without the volatility typically associated with cryptocurrencies like Bitcoin or Ethereum.
The Future Is Already Here
Crypto cards are no longer a speculative concept or a limited-use product. They’re actively shaping how people spend, save, and plan their finances. As usage becomes more frequent and the demographic base widens, the crypto card is fast becoming a vital link between decentralised finance and everyday life.
With market projections reaching over $152 billion in just six years, and with both youth and older generations embracing this technology, the crypto card revolution is not only real, it’s just getting started.