OKX Card Usage Surges Across Europe Amid Broader Crypto Adoption

OKX Card usage has surged across Europe this summer, with purchase volume increasing by a significant 280% year-over-year and transactions rising by 178%. The growth is part of a broader trend where crypto cards are gaining momentum in the payments industry. In July, industry-wide crypto card purchase volume reached a record $759 million.

The OKX Card is designed to bridge the gap between holding digital assets and using them for everyday spending. Across Germany, the Netherlands, Poland, and France, the number of monthly OKX Card users purchasing groceries increased by 65% between February and July. Adoption accelerated further between May and July, when the number of customers using their Card for groceries increased by 221%, while users spending on transport and fuel increased by 263%. Purchase volumes in these everyday categories grew even faster.

Erald Ghoos, CEO of OKX Europe, said: 'The most interesting part of this growth isn't simply that customers are spending more with their OKX Card. It's what they're spending on.' He noted that the shift is driven by a change in what customers are spending on, rather than just an increase in overall spending.

The OKX Card offers flexibility over assets behind everyday spending and allows customers to earn rewards through DeFi. Eligible customers can earn 2% to 10% cashback on eligible everyday purchases, while zero added fees make the Card particularly useful when spending across currencies.