Crypto Credit Cards: Behind the Numbers
One of the biggest perks of having millions of cards in the market is being able to aggregate and analyze the transactional data. This enables the analysts to glean meaningful and relevant, real-world information from which issuers, fintechs, and end users can use to inform their appetite for product development and product adoption.
In a ground-breaking report, i2c analyzed account and transactional data from more than 4,000 traditional and crypto-backed card programs across 40 countries spanning three continents.
The result? We‘ve got lots of insights to share with you about crypto-backed cards!
What Is a Crypto Card?
A crypto-backed card connects a crypto wallet, provided by a cryptocurrency exchange like Crypto.com or Coinbase, to an issuing and payment processing platform. Crypto cards enable cardholders to make payments in person and digitally by transacting through conventional payment networks like Visa and Mastercard.
These innovative programs offer consumer and commercial cardholders a number of benefits, such as reduced or waived foreign conversion fees, near real-time transaction, rewards, and multi-currency/multi-purse features that allow them to move seamlessly between cryptocurrencies and fiat in a secure and compliant fashion.
Key Findings from the Report
After analyzing the data, some key findings emerged. Read the full report to learn how crypto-backed cards:
- Aren‘t just for Millennials.
- Have a faster growth and loyalty rate than traditional cards.
- Are used significantly more for cross-border transactions.
- Have a higher usage in certain categories.
- Are used proportionately higher for CNP cross-border transactions.
What Is Your Vision for Crypto Cards?
As a pioneer in crypto-backed cards, i2c has the expertise and experience to help you realize your vision. We helped bring the very first U.S. crypto-backed card to market in 2015, and our platform can support any use case to make your crypto card vision a reality. Ready to talk? Contact us today!