According to Nexo's report, the usage of the Nexo Card has significantly increased in 2024, reflecting growing client interest in crypto lending.
Sharp Increase in Lending via Nexo Card
In 2024, there was a 72% increase in cryptocurrency lending facilitated by the Nexo Card. Clients prefer borrowing instead of selling their assets, accessing credit with an annual percentage rate of up to 27% APR. The total value of card transactions increased by 203.3%, and the number of transactions surged by 324% weekly, indicating a shift in behavior among crypto holders.
Recognition in the Financial Industry
The Nexo Card has received accolades from leading fintech institutions. In 2024, it was awarded for Best PayTech in Digital CX, Innovation in Consumer Payments, and the Most Exciting Payments Solution of the Year. This reflects the high quality and performance the card offers to users.
Cryptocurrency as a Quality of Life Enhancer
The usage of Nexo cards peaked during holidays and cultural events, indicating that cryptocurrency is being utilized for experiences rather than just purchases. During peak seasons, expenditures increased by an average of 223%, suggesting that clients view cryptocurrency as an essential element of their financial and lifestyle strategies.
The report indicates that the Nexo Card not only provides users access to credit resources but also facilitates the integration of cryptocurrency into everyday life, offering flexible financial solutions.
