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Crypto banking statistics

10% of American internet users aged 18+ have used a crypto banking product

Crypto banking products allow you to manage and spend your cryptocurrencies. But while they come with some potential rewards – they also present a lot of risks that you don’t typically have with traditional banking products. So how many Americans have started using crypto banking products, and where is the industry headed next? Let’s unpack the stats.

Key statistics

Retail investors

10%of American internet users aged 18+ have used a crypto banking product

Institutional investors

18%of banking executives are interested in providing cryptocurrency services to customers

Crypto payments

36%of US consumers aged 18–35 think crypto should be used for payments, not just investing

Quick summary:

  • 10% of American adult internet users have used a crypto banking product.
  • The number of crypto wallet holders has reached 84.02 million as of August 2022.
  • About one in five bank executives are interested in providing crypto investing services to their customers.
  • Blockchain-based solutions in the financial services industry are set to grow 62% from 2021–2022.

Retail investors

  • 10% of American internet users aged 18+ have used some kind of crypto banking product – whether it’s a credit card, a loan, a wallet or a trading product.
  • A separate study from Finder reveals 5% of Americans use a crypto credit card.
  • While a lot of consumers use exchanges and brokers to buy and sell cryptocurrency, reports suggest 60% of consumers who have cryptocurrency said they’d use their current bank if they provided this service.

Crypto banking wallets

  • The number of crypto wallet holders has reached 84.02 million worldwide, as of August 2022.
  • The US crypto wallet market size grew from $1.4 billion in 2020 to $1.7 billion in 2021.

Crypto banking debit and credit cards

  • eCommerce dominates the crypto debit card market, with an average of 53% of Visa debit card spending done online.
  • Popular retailers for online crypto debit spending with include Amazon, eBay and AliExpress, with spending comprising 37%, 19% and 16% of market share respectively.
  • debit cards are particularly popular for traveling around Europe, with 66% of travel spending done in the EU.
  •’s Visa card grew in popularity throughout 2021 – the card saw double-digit growth for per-user spending in 2021 compared to the previous year.
  • Visa customers made $2.5 billion in payments with Visa’s crypto-linked cards in the first fiscal quarter of 2022.

Cryptocurrency as a payment method

  • Over a third (36%) of Americans aged 18–35 said they believe cryptocurrencies should be used as a currency, not just investing.
  • However, 34% think the risks involved with cryptocurrency will prevent it from becoming a mainstream form of payment.
  • 77% of merchants who support payments in crypto or stablecoins saw an increase in cross-border sales.
  • Nearly a quarter of online businesses surveyed for Checkout (23%) say they’re planning to offer crypto as a payment method by 2024.

Financial institutions

  • A survey of credit union and senior bank executives by Cornerstone Advisors reveals that around one in five are somewhat or very interested in providing cryptocurrency investing services to their customers.
  • The remaining 81% said they were “not interested”.
  • Blockchain-based solutions for customer onboarding are estimated to save up to $1 billion in operating costs for banks globally, according to McKinsey.
  • They’re also expected to reduce regulatory fines by $2–$3 billion and annual losses by $7–$9 billion.
  • Blockchain-based solutions are expected to help consumers save money on cross-border payments with estimates suggesting they could save customers $4 billion a year.
  • In 2019, cross-border payments totaled around $600 billion annually and the market was set to maintain growth of about 3% per year.

Blockchain in banking and financial services

  • Blockchain was forecasted to comprise $2.53 billion of the banking and financial services market size globally in 2022.
  • By 2026, the market is projected to reach $22.46 billion.
  • Blockchain in financial services can be used to authenticate KYC and AML data, streamline credit scoring and facilitate the collateralization of assets.

More guides on Finder

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