OKX Card sees purchase volume in Europe rise by 280%

Crypto cards are increasingly being used in Europe for everyday payments. OKX reports that purchase volume with the OKX Card this summer was 280% higher than a year earlier, while the number of transactions rose by 178%. Customers now regularly use the card for groceries, transport and fuel rather than only for crypto-related transactions.

View all information about the OKX Card here.

In brief:

• Purchase volume with the OKX Card rose 280% year-on-year, while transactions rose by 178%
• In Europe, crypto cards are increasingly used for everyday spending such as groceries and transport
• The sector as a whole reached a record purchase volume of $759 million in July

Rapid growth in Northern and Eastern Europe

The expansion accelerated notably between May and July. During that period, the number of customers using the OKX Card for groceries increased by 221%, while the number of users for transport and fuel rose by 263%. Purchase volumes grew even faster: groceries surged by 482% and transport plus fuel by 530%.

In Germany, the Netherlands, Poland and France, the monthly number of users paying for groceries increased by 65% between February and July. Poland stands out clearly: everyday spending such as groceries, transport and utilities accounts for 31.7% of all OKX Card spending there. In the Netherlands that is 22.2%, in Germany 20.4% and in France 14.1%.

Wider use of digital assets in payments

This growth fits a broader pattern in which cryptocurrencies are used not only for speculation or investment. Purchase volume with crypto cards across the sector reached $759 million in July, indicating that the payment method is maturing.

Erald Ghoos, CEO of OKX Europe, says it is above all about what customers buy with their cryptocurrency. “Groceries, transport and fuel are part of everyday life. We see that both the number of customers using the card for these purchases and the amount they spend are growing rapidly. The next phase of adoption is not about asking people to change their payment methods. It is about offering them more choice and value.”

How the OKX Card works

The OKX Card is designed to make digital assets more practical. Customers can fund their OKX Pay account with money, stablecoins or crypto, and decide themselves which assets they use. The card works on the Mastercard network and supports Apple Pay and Google Pay.

Users can earn up to 10% cashback on everyday purchases. Customers also sometimes receive a 50% refund on subscriptions such as Netflix and ChatGPT. For VIP clients, existing benefits are extended to everyday payments with higher cashback percentages.