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Alisa Davidson
Published: July 10, 2025 at 12:01 pm Updated: July 10, 2025 at 6:43 am
Edited and fact-checked:
July 10, 2025 at 12:01 pm
In Brief
Nexo reported a 72% year-over-year increase in crypto-backed borrowing via the Nexo Card, accompanied by a 203% rise in transaction volume, highlighting growing adoption as users increasingly leverage digital assets for liquidity while preserving their holdings.
Digital asset wealth platform Nexo reported a 72% year-over-year growth in crypto-backed borrowing through the Nexo Card, reflecting a trend among clients to retain their assets rather than sell them. The total transaction volume on the card increased by 203.3%, indicating its expanding use as a financial instrument for cryptocurrency users across the European Economic Area.
According to Nexo’s 2024 Card Report, over 100,000 BTC and 750,000 ETH were preserved from sale by leveraging the card’s collateralized credit line, alongside a 324% rise in weekly transaction frequency. These statistics point to a notable change in how cryptocurrency holders access liquidity amid rising inflation and growing adoption of digital currencies.
“Today, people don’t want to choose between their financial future and their present needs — and the Nexo Card reflects that,” said Elitsa Taskova, Chief Product Officer at Nexo, in a written statement. “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,” she added.
Nexo Card Adoption And Usage Experience Growth
In 2024, the Nexo Card, recognized as the world’s first dual-mode card combining debit and credit functions backed by digital assets, experienced a 72% year-over-year rise in credit card mode usage, a 203.3% increase in total card transaction volume, and a 324% growth in weekly transaction frequency.
This expanding reliance on crypto-collateralized financial services comes amid a contraction in traditional borrowing across Europe, indicating a clear movement toward more adaptable options that allow users to preserve their assets.
Throughout the year, the Nexo Card, supported by Mastercard, earned several honors from prominent industry organizations including The Digital Banker, FinTech Breakthrough, and INATBA. These awards recognized achievements such as Best PayTech for Digital Customer Experience in Payments, Consumer Payments Innovation, and Most Exciting Payments Solution of the Year.
Adoption is particularly strong in Southern Europe, where factors like inflation, restricted credit availability, and a technologically adept population create an environment conducive to alternative financial products. In this region, crypto-backed cards have shifted from novelty items to essential financial tools.
Usage of the card surged during major cultural and commercial occasions, reflecting a broader trend of cryptocurrency being spent not only on goods but also on experiences, travel, and celebrations, with an average increase of 223% during key seasonal events. This expansion was especially prominent among high-net-worth individuals, who directed 21% of their expenditures toward travel-related expenses.
Larger purchases were frequently associated with long-term objectives such as education and investment, rather than everyday transactions. As the lines between spending, wealth protection, and lifestyle integration blur, the Nexo Card remains central to the company’s vision. It functions beyond a simple payment method, serving as a critical platform for delivering practical and widespread utility for cryptocurrency holders worldwide.
Disclaimer
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa Davidson
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
More articles
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