i2c Inc., a leading provider of digital payment and banking technology released a report on crypto-backed cards, which are among the world's fastest-growing card categories. The report looks at account and transactional data from more than 4,000 crypto-backed and traditional card programs in 40 countries on three continents.
With more than five million crypto-backed cards running on its global platform, i2c is the world’s premier partner for issuing and processing cryptocurrency cards.
Unlike many crypto studies, the report is notable for being based on actual behavior (transactional data) as well as verified demographic data as opposed to respondent statements. Among the report’s highlights were findings that seem to challenge common perceptions about crypto users and reinforce both the global nature and borderless benefits associated with the technology:
45% of crypto cardholders are over age 35
Crypto-backed card programs transact cross-border at more than twice the rate of traditional cards
Crypto-backed card programs show higher dollar volumes (7%) for cross-border transactions than traditional card programs
“Crypto-backed cards are presenting the payments industry with groundbreaking firsts while demonstrating what's possible for a truly global payments program," said Jim McCarthy, president of i2c. “We saw crypto-related accounts grow exponentially over the past year along with innovations and engagement levels that are changing the way we think about payments and cardholders.”
Download the full report here: Crypto-Backed Cards: Behind the Numbers