72% YoY increase in crypto-backed borrowing reports Nexo
2025-07-10 16:18:30
Main Idea
Nexo reported a 72% year-over-year rise in crypto-backed lending usage, with significant growth in transaction volume and frequency, particularly in Southern Europe, driven by its collateralized credit line service.
Key Points
1. Nexo's 2024 Card Report shows over 100,000 Bitcoin (BTC) and 750,000 Ethereum (ETH) avoided being sold through users accessing the Nexo Card’s collateralized credit line.
2. Weekly card transaction frequency increased by 324% across the European Economic Area, with adoption growing notably in Southern Europe.
3. High-net-worth users allocated 21% of their spending to travel, indicating a preference for crypto-backed lending over selling assets for everyday purchases.
4. The Nexo Card, powered by Mastercard, received multiple 2024 awards, including Best PayTech for Digital CX – Payments and Consumer Payments Innovation.
5. Transaction volume grew by 203.3% compared to the previous year, with usage spikes during key cultural and commercial periods.
Description
Digital assets platform Nexo reported a 72% year-over-year rise in crypto-backed borrowing through the Nexo Card as users choose to hold their assets instead of selling, as per the information shared with Finbold on July 10. Nexo’s 2024 Card Report shows that over 100,000 Bitcoin ( BTC ) and 750,000 Ethereum ( ETH ) avoided being sold through users accessing the Nexo Card’s collateralized credit line. Weekly card transaction frequency jumped by 324% across the European Economic Area. “Today, peo...
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