Cryptocurrency Payment Apps Market size is assessed at USD 893.1 million in 2024 and is set to exceed USD 4.5 billion by the end of 2037, growing at over 12.8% CAGR during the forecast period i.e., between 2025-2037. In 2025, the industry size of cryptocurrency payment apps is estimated at USD 1.07 billion.
The primary driver of the cryptocurrency payment apps market is the increasing adoption of digital currencies across several sectors. For instance, according to the Atlantic Council of United States as of September 2024, 134 countries and currency unions, representing 98% of global GDP, are exploring a Central Bank Digital Currency (CBDC).
Moreover, rising technological advancements enhance usability, security, and overall adoption of cryptocurrency payment solutions. Innovations such as Layer 2 solutions (e.g., Lightning Network, Raiden Network, Plasma, and Optimistic Rollups) allow for simpler and quicker transactions, making cryptocurrencies more viable for everyday payments. Advances in cryptography and biometric security protect user data and assets, boosting confidence in using these apps. Also, better app design and user interfaces, along with features such as QR code scanning and one-click payments, make transactions easier and more intuitive for users.
Growth Drivers
Challenges
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
12.8% |
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Base Year Market Size (2024) |
USD 893.1 million |
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Forecast Year Market Size (2037) |
USD 4.5 billion |
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Regional Scope |
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Cryptocurrency Type (Bitcoin, Ethereum, Litecoin, DAI, Ripple, and others)
Bitcoin segment is projected to hold over 67.8% cryptocurrency payment apps market share by the end of 2037. Bitcoin has established a strong brand and recognition, making it the most well-known digital currency. Bitcoin’s blockchain technology is considered secure and robust, contributing to its reputation as a reliable payment option compared to other cryptocurrencies. According to a 2023 report by Research Nester, roughly 77% of cryptocurrency owners in the U.S. claimed to be Bitcoin users.
Accepting Bitcoin can drive tech-savvy consumers and those who prefer cryptocurrency for privacy or investment purposes. Bitcoin can be processed quickly, particularly across borders, compared to traditional banking methods, thus increasing its adoption among several businesses. Many enterprises in the U.S. are accepting Bitcoin as a form of payment, influenced by the growing interest in cryptocurrencies. For instance, around 15,200 businesses worldwide accept Bitcoin out of which 2,200 are located in the U.S. Microsoft is the largest U.S. Corporation to accept Bitcoin.
Payment Type (In-store, and Online)
The in-store segment in cryptocurrency payment apps market is estimated to rise at a significant CAGR throughout the forecast period. Several physical stores accept cryptocurrency and legitimize its use which encourages more consumers to explore digital payment options. Offering discounts or special promotions for cryptocurrency transactions can encourage usage, increasing overall transaction volumes. Moreover, cryptocurrency transactions can be quicker than traditional credit card processes, reducing wait times for customers.
Additionally, online payment type is also predicted to drive the cryptocurrency payment apps market. The segment growth is attributed to the rising prevalence of e-commerce platforms. Many online retailers are starting to accept cryptocurrency payments. Online firms such as airBaltic, Travala.com, Digital Gap Ltd, Raw Living Limited, and Amazon Technologies, Inc. all accept cryptocurrencies as payment options.
Online platforms that accept cryptocurrencies can attract tech-savvy consumers and investors, driving demand for cryptocurrency payment apps. For instance, in August 2022, Crypto.com, the world's fastest-growing cryptocurrency platform, has announced its latest cryptocurrency payment revolution, allowing local customers to utilize their cryptocurrency for everyday transactions. Customers with a Crypto.com wallet can purchase everyday items, such as petrol, coffee, and sandwiches, across 175 OTR fuel and convenience store sites across Victoria, South Australia, and Western Australia using their cryptocurrency by simply scanning a QR code on their phone with the Crypto.com App.
Our in-depth analysis of the cryptocurrency payment apps market includes the following segments
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Cryptocurrency Type |
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Payment Type |
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Operating System |
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End user |
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North America Market Forecast
North America in cryptocurrency payment apps market is set to capture over 36.2% revenue share by 2037. The cryptocurrency payment apps market is poised for continued growth, driven by technological advancements, increasing consumer acceptance, and evolving frameworks. Many businesses from small retailers to large corporations, are adopting cryptocurrency payment solutions, driven by consumer demand for diverse payment options.
The U.S. government and agencies such as the SEC and IRS provide guidelines for cryptocurrency usage, which fosters business confidence. A growing number of retailers, both online and offline are accepting cryptocurrencies as payment, reflecting rising consumer demand. It has been estimated that 13.5% of the U.S. population owns cryptocurrency. Moreover, there is a growing awareness about cryptocurrency among individuals, with a staggering 81.4% of people being aware in 2021 as compared to 69.4% in 2020.
Canada has established a relatively clear regulatory framework for cryptocurrencies, with the Financial Transactions and Reports Analysis Center of Canada (FINTRAC) overseeing compliance. This clarity helps businesses feel more secure in adopting crypto payment solutions. Additionally, the Canada Revenue Agency (CRA) has provided guidance on the taxation of cryptocurrency transactions, which further encourages businesses to accept crypto payments.
APAC Market Analysis
The cryptocurrency payment apps market in Asia Pacific is rapidly evolving, owing to diverse adoption rates and regulatory landscapes across countries. Countries such as India, China, Japan, South Korea, and Singapore have shown significant engagement in cryptocurrencies, with many consumers and businesses adopting digital currencies for transactions.
In India the cryptocurrency payment apps market is on growth trajectory, influenced by rising consumer interest. Around 7.1% population own cryptocurrency. Moreover, awareness campaigns, workshops, and online resources are educating consumers about cryptocurrencies and their benefits. Several cryptocurrency payment processors such as CoinSwitch and UnoCoin are providing solutions tailored for local businesses to accept cryptocurrencies easily.
The Government of China is heavily investing in blockchain technology, which could indirectly support the development of cryptocurrency-related applications and infrastructure. Moreover, the growth of e-commerce can also bring in opportunities for cryptocurrency payments.
Key players invest in advanced technology to enhance app security, speed, and user experience, making transactions smoother and more reliable. Collaborating with retailers, e-commerce platforms, and financial organizations increases acceptance and usability of cryptocurrency payments.
Here are some key players in the market
Author Credits: Abhishek Verma
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