Fully 65% of crypto card spending is on everyday expenses, according to a new survey of European card holders. Looking at a survey of 1,000 Simple Wallet cardholders found that 65% of transactions were for “routine expenses such as groceries, subscriptions like Netflix and Spotify, transport, utilities, online shopping, and cafes.” About 18% went to travel and cross-border spending, while…
-
-
Tech Firms Bringing Stablecoin Payments to Masses: Bitwise
This will also bring millions into the crypto economy
Tech companies with big distributed gig worker bases will help expand stablecoins into a $4 trillion business. Along the way, they will help bring millions of investors into the crypto economy. That’s according to Matt Hougan, chief investment officer of crypto asset manager Bitwise, who pointed to a pair of pilot programs by DoorDash and Meta to pay gig workers…
-
Morgan Stanley Jumps Into Low-Fee Crypto Trading
50 basis point fees would undercut competitors
Morgan Stanley’s E*Trade discount brokerage division is jumping into the digital asset arena with a pilot program allowing low-fee cryptocurrency trading. The Wall Street bank’s emphasis is on the “discount” part of discount brokerage, offering trades for just 50 basis points on the dollar, or 0.5%. The launch is Morgan Stanley’s attempt to gain a share of an asset class…
-
OKX Card Sees Everyday Spend Trumping Luxuries
Groceries and dining were king in the EU
Crypto card holders across the EU are spending their stablecoins on everyday items, not the stereotypical big-ticket luxury items. That’s the finding of an analysis of crypto debit card holders by exchange OKX, which issues the OKX Card. Looking at card transactions from late January to late February, the first month after the card’s launch, OKX found that 26% of…
