Nexo Sees 72% Surge In Crypto-Backed Borrowing As Users Hold Over 100,000 BTC
The post Nexo Sees 72% Surge In Crypto-Backed Borrowing As Users Hold Over 100,000 BTC appeared on BitcoinEthereumNews.com. Instead of cashing out their Bitcoin (BTC), more folks are simply tapping it for everyday spending. That’s the takeaway from Nexo’s new 2024 Card Report, which shows a 72% jump in crypto‑backed borrowing through the Nexo Card over the past year. Imagine keeping your dream of a future payday intact, all while paying for dinner or booking a flight today. That’s exactly what happened when loyal Nexo customers borrowed against their crypto, preserving more than 100,000 BTC and 750,000 ETH that otherwise might’ve hit the market. Meanwhile, total card transaction volume climbed 203.3% and weekly swipes jumped 324%. “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. “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.” Crypto Collateral Goes Mainstream And it isn’t just high‑net‑worth traders living the crypto‑collateral lifestyle. Spending spiked during everything from summer festivals to winter holidays, with an average 223% boost around big seasonal events. Travelers led the way, allocating about 21% of their card spend to flights and hotels. Others used larger withdrawals for education or seed investments—moves driven by planning, not impulse. Southern Europe, in particular, has embraced this approach. With inflation nibbling at savings and traditional credit harder to come by, crypto‑backed borrowing has become more than a novelty—it’s a go‑to lifeline. Nexo’s Card has also picked up some shiny hardware this year. Powered by Mastercard, it scooped awards from The Digital Banker, FinTech Breakthrough and INATBA—everything from “Best PayTech for Digital CX – Payments” to “Most Exciting Payments Solution of the Year.” Since 2018, Nexo has grown into a one‑stop shop for digital‑asset wealth,…
The post Nexo Sees 72% Surge In Crypto-Backed Borrowing As Users Hold Over 100,000 BTC appeared on BitcoinEthereumNews.com.
Instead of cashing out their Bitcoin (BTC), more folks are simply tapping it for everyday spending. That’s the takeaway from Nexo’s new 2024 Card Report, which shows a 72% jump in crypto‑backed borrowing through the Nexo Card over the past year. Imagine keeping your dream of a future payday intact, all while paying for dinner or booking a flight today. That’s exactly what happened when loyal Nexo customers borrowed against their crypto, preserving more than 100,000 BTC and 750,000 ETH that otherwise might’ve hit the market. Meanwhile, total card transaction volume climbed 203.3% and weekly swipes jumped 324%. “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. “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.” Crypto Collateral Goes Mainstream And it isn’t just high‑net‑worth traders living the crypto‑collateral lifestyle. Spending spiked during everything from summer festivals to winter holidays, with an average 223% boost around big seasonal events. Travelers led the way, allocating about 21% of their card spend to flights and hotels. Others used larger withdrawals for education or seed investments—moves driven by planning, not impulse. Southern Europe, in particular, has embraced this approach. With inflation nibbling at savings and traditional credit harder to come by, crypto‑backed borrowing has become more than a novelty—it’s a go‑to lifeline. Nexo’s Card has also picked up some shiny hardware this year. Powered by Mastercard, it scooped awards from The Digital Banker, FinTech Breakthrough and INATBA—everything from “Best PayTech for Digital CX – Payments” to “Most Exciting Payments Solution of the Year.” Since 2018, Nexo has grown into a one‑stop shop for digital‑asset wealth,…
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