Crypto Payment Gateways Statistics 2024: Market Size, Trends, and Leading Players
Barry Elad
Updated · Dec 16, 2024
In recent years, cryptocurrency has transformed from a niche digital asset to a mainstream financial tool, reshaping how people approach payments and online transactions. Crypto payment gateways, which facilitate these transactions by allowing businesses to accept digital currencies as payments, have been at the forefront of this revolution. With increased adoption by small businesses and large corporations alike, these gateways are not only providing a secure, seamless payment experience but are also opening doors to a global market without the complexities of traditional banking. As we look into the statistics surrounding crypto payment gateways in 2024, it’s clear that this industry is positioned for significant growth and technological advancements, setting a new standard for payment solutions worldwide.
Editor’s Choice: Key Milestones in Crypto Payment Gateways
- Over $4 billion in cryptocurrency payments were processed globally in 2023, marking a 25% increase from the previous year.
- 80% of global businesses report they are more likely to adopt crypto payment gateways by the end of 2024 due to lower transaction fees and global reach.
- By early 2024, 32% of small-to-medium enterprises (SMEs) in the US have integrated at least one form of crypto payment gateway, a significant rise from 10% in 2022.
- 95% of crypto payment providers now offer multi-currency support, enabling businesses to accept popular cryptocurrencies like Bitcoin, Ethereum, and Litecoin.
- The market for crypto payment gateways in the Asia-Pacific region grew by 40% in 2023, driven largely by increased cryptocurrency adoption in countries like Japan and South Korea.
- Two-thirds of e-commerce platforms are expected to accept crypto payments by 2025, with many major players already enabling it as an option in 2024.
- The global transaction volume of crypto payments is projected to surpass $10 billion by 2025, fueled by innovations in blockchain technology and rising consumer trust in digital assets.
Crypto Payment Gateways Market Size
- The global crypto payment gateway market was valued at $1.4 billion in 2023 and is expected to reach $2.8 billion by 2025, with a compound annual growth rate (CAGR) of 18.6%.
- North America leads the market, accounting for 40% of the total market share in 2023, driven by increasing adoption from tech-savvy businesses and consumer demand.
- The European crypto payment gateway market is projected to grow at a CAGR of 20%, with key growth attributed to favorable regulations and technological advancements.
- The Asia-Pacific region holds a 25% market share and is expected to see the fastest growth rate, as businesses and consumers adopt crypto payments amid regulatory support.
- Latin America’s crypto gateway market has grown by 35% in the past year, with countries like Brazil and Argentina leading in adoption due to economic instability and interest in alternative financial systems.
- In 2024, the transaction fee for crypto payments averages around 0.5%, significantly lower than the 2-3% fees typical with traditional payment gateways.
- 40% of consumers globally are expected to use crypto payment options at least once in 2024, highlighting an increasing comfort and trust in digital currencies.
- Over 60% of US-based crypto payment providers reported steady or growing revenues in 2023, indicating strong demand for crypto payment solutions in the region.
Crypto Payment Gateways Market Trends
- Cross-border transactions have increased by 45% in 2023, as crypto payment gateways eliminate the need for currency conversion and traditional banking fees, making it a preferred choice for international business.
- Instant settlement options are now offered by 70% of crypto payment gateways, reducing the time taken to convert cryptocurrency into fiat, thereby increasing appeal to businesses.
- DeFi integration in payment gateways has risen, with 15% of companies offering decentralized finance options, allowing consumers to pay with assets held in DeFi wallets.
- A significant 50% of new crypto payment gateway users are individuals between 18 and 34 years old, with Gen Z and Millennials driving digital currency adoption.
- The use of stablecoins in payment gateways increased by 65% in 2023, as businesses seek more stable payment options within the volatile crypto market.
- Biometric security features are being integrated by 30% of providers to ensure secure transactions, aiming to attract security-conscious consumers.
- The adoption of non-custodial wallets by 40% of gateways emphasizes a growing trend towards giving users direct control over their crypto assets, catering to those who prioritize security and decentralization.
| Trend | Percentage/Value |
| Cross-border transaction increase | 45% in 2023 |
| Instant settlement options | 70% of providers |
| DeFi integration | 15% of providers |
| Gen Z and Millennial adoption | 50% of new users |
| Stablecoin use | 65% increase |
| Biometric security adoption | 30% |
| Non-custodial wallets adoption | 40% |
Crypto Payment Gateways Market Share
- In 2023, Coinbase Commerce and BitPay held a combined 30% share of the global crypto payment gateway market, making them the most widely used providers.
- Binance Pay saw a 45% increase in its user base in 2023, driven by global expansion efforts and partnerships with major online retailers.
- Cryptocurrency exchange-based payment gateways (like those provided by Binance and Crypto.com) dominate the market, capturing 60% of the total share due to integration with established exchanges.
- Non-custodial crypto payment gateways account for 25% of the market, appealing to businesses and individuals prioritizing decentralized transactions.
- Europe’s top three providers of crypto payment gateways control 70% of the regional market, with Checkout.com leading in merchant adoption.
- North America’s crypto gateway landscape is highly competitive, with PayPal’s entrance in 2023 causing a 10% shift in market dynamics as more consumers adopt familiar platforms.
- In Latin America, Mercado Pago is emerging as a dominant player in crypto payment gateways, capturing 20% of the market within two years of launch.
| Provider/Region | Market Share (%) | Key Observations |
| Coinbase Commerce and BitPay | 30% | Combined share, widely used |
| Binance Pay | 45% increase | Significant user base growth |
| Exchange-based gateways | 60% | Dominant in the market |
| Non-custodial gateways | 25% | Preferred for decentralized transactions |
| Top three providers in Europe | 70% | Checkout.com leads in merchant adoption |
| Mercado Pago in Latin America | 20% | Rapidly growing in the region |
Major Players in the Crypto Payment Gateway Market
- BitPay, established in 2011, processed over $1 billion in crypto payments in 2023, maintaining its reputation as a leading gateway for e-commerce and retail payments.
- Coinbase Commerce supports over 8,000 merchants and saw a 20% rise in transaction volume last year, driven by increased adoption across e-commerce and subscription-based businesses.
- Binance Pay, launched in 2021, recorded 500,000 transactions per month by the end of 2023, making it a key competitor in global crypto payment solutions.
- CoinGate, known for its wide cryptocurrency support, reported a 30% increase in merchant adoption in 2023, especially among European SMEs.
- NOWPayments, a non-custodial gateway, saw double-digit growth in Q3 2023, catering to privacy-conscious consumers who prefer holding their own keys.
- Alchemy Pay expanded its operations to over 65 countries in 2023, providing both crypto and fiat payment options, bridging the gap between traditional and digital currency payments.
- Crypto.com Pay processed $700 million in transactions in 2023, with a strong focus on loyalty programs and user rewards, appealing to retail and travel sectors.
| Player | Key Metric | Value |
| BitPay | Processed crypto payments (2023) | $1 billion |
| Coinbase Commerce | Merchant support | 8,000 merchants |
| Binance Pay | Monthly transactions | 500,000 |
| CoinGate | Increase in merchant adoption (2023) | 30% |
| NOWPayments | Q3 2023 growth | Double-digit growth |
| Alchemy Pay | Country operations | 65+ countries |
| Crypto.com Pay | Transaction volume (2023) | $700 million |
Regional Insights in Crypto Payment Gateway Usage
- North America led the way with 45% of global crypto transactions in 2023, driven by high consumer awareness and a regulatory environment that supports crypto businesses.
- Europe saw a 30% increase in adoption, especially in countries like Germany, the Netherlands, and Switzerland, where crypto-friendly regulations encourage business adoption.
- In Asia-Pacific, Japan and South Korea saw significant growth, with 25% of businesses in the region planning to adopt crypto payment gateways by 2025.
- Latin America witnessed an explosive 55% growth in crypto transactions due to economic instability and high inflation rates, with crypto offering an alternative store of value.
- Africa remains an emerging market, where Kenya and Nigeria lead with 50% of mobile wallets now supporting cryptocurrency, making crypto payments accessible to those without bank accounts.
- Middle Eastern countries, particularly the UAE, recorded a 40% growth in crypto gateway adoption as regional hubs aim to attract crypto and blockchain innovation.
- Australia has one of the highest per capita rates of crypto usage, with 20% of small businesses accepting digital currency payments, mainly in the e-commerce and tourism sectors.
Cryptocurrency Type Insights
- Bitcoin remains the top cryptocurrency in payment gateways, making up 60% of transactions globally, driven by its established market dominance and trust.
- Ethereum is the second most popular choice, accounting for 25% of crypto payments in 2023, largely due to its broad application in DeFi and smart contracts.
- Stablecoins such as USDT and USDC have risen in popularity, representing 10% of total transactions due to their price stability and appeal for cross-border payments.
- The adoption of Dogecoin and Shiba Inu for smaller transactions increased by 30% in 2023, with some businesses seeing them as a way to engage crypto-savvy consumers.
- Ripple’s XRP is gaining traction in cross-border payments, capturing 5% for crypto payment gateways.
- Litecoin (LTC) transactions rose by 12%, often used as a faster and lower-fee alternative to Bitcoin.
- Multi-currency payment options are now standard, with 90% of crypto payment gateways allowing merchants to accept multiple cryptocurrencies, offering flexibility to consumers and businesses alike.
Payment Type Insights
- Peer-to-peer (P2P) crypto payments have increased by 40% in 2023 as consumers look for direct, no-middleman transaction options for security and lower costs.
- E-commerce transactions make up the majority, with 65% of crypto payments occurring in online retail, driven by the global rise of digital shopping and preference for fast, borderless transactions.
- B2B payments through crypto gateways have seen a 50% year-over-year increase, as more businesses use cryptocurrency for international payments to reduce currency exchange fees and delays.
- Subscription-based services now account for 10% of crypto transactions processed, as platforms experiment with crypto payment models for services like streaming and online software.
- Mobile-based crypto payments are dominant, with 85% of users accessing crypto payment services via mobile apps, highlighting the importance of mobile optimization for crypto gateways.
- Instant payments (offered by 75% of gateways) are gaining traction, allowing transactions to settle almost immediately, making crypto a practical option for time-sensitive purchases.
- Point-of-sale (POS) systems integrated with crypto have grown by 30% in retail sectors, especially in countries like Japan, the United States, and Germany, where crypto adoption is high.
Technological Innovations and Security Measures
- Blockchain scalability improvements in 2023 have reduced transaction processing times by 20% on average, making crypto payment gateways more competitive with traditional payment solutions.
- AI-driven fraud detection is now used by 60% of gateways, helping to identify suspicious transactions and secure user funds with real-time monitoring.
- Two-factor authentication (2FA) has become standard across 95% of gateways, providing an extra layer of security and instilling user confidence in crypto transactions.
- Smart contracts are increasingly used, with 30% of payment gateways adopting them to automate transaction verification and reduce the need for intermediaries.
- Zero-knowledge proofs (ZKPs) are integrated by 15% of crypto payment gateways, allowing transactions without revealing user details, addressing privacy concerns.
- Multi-signature wallets are used by 70% of gateways, requiring multiple approvals for high-value transactions, a feature that appeals to institutional clients and security-conscious users.
- Quantum-resistant encryption is now being explored by 5% of gateways as a future-proofing measure against potential advancements in quantum computing.
Regulatory Landscape and Compliance
- 25 countries globally have adopted clear regulatory frameworks for crypto payments, with the EU’s MiCA regulations leading as the most comprehensive for standardizing crypto assets.
- The United States has seen a 20% increase in state-level policies supporting crypto business operations, making it easier for businesses to implement crypto payment gateways.
- AML (Anti-Money Laundering) and KYC (Know Your Customer) requirements are enforced by 85% of gateways, aligning with regulatory demands and boosting trust in crypto payments.
- In Japan and South Korea, regulatory clarity has allowed 30% of large enterprises to integrate crypto payment solutions, benefiting from the government’s supportive stance.
- Brazil’s new crypto regulations in 2023 have paved the way for broader adoption, with 15% of businesses in the region now offering crypto payment options.
- India’s digital asset tax policies have slowed adoption, with only 5% of businesses using crypto payments due to high taxation and regulatory uncertainty.
- UK regulators introduced guidelines for stablecoins in 2023, classifying them under e-money regulations, prompting 10% of local businesses to explore crypto payment options.
Recent Developments
- Visa and Mastercard expanded their crypto payment programs in early 2024, enabling direct crypto-to-fiat payments for users, and eliminating the need for manual conversion.
- PayPal introduced stablecoin payments in 2023, allowing users to pay merchants directly with USDC, streamlining the process for crypto transactions on the platform.
- Stripe resumed support for crypto payments, partnering with several crypto wallets to provide seamless transactions, marking a key shift for global online businesses.
- NFT-based payments are emerging, with 5% of crypto payment gateways allowing payments directly through NFTs, especially within niche industries like gaming and digital art.
- Integration with DeFi protocols saw a 15% increase in 2023, as gateways allowed users to make payments with DeFi assets, merging traditional payments with decentralized finance.
- Blockchain interoperability between networks, such as Ethereum and Binance Smart Chain, is now offered by 25% of payment gateways, making cross-chain transactions simpler and more accessible.
- Environmental sustainability has become a focus, with 10% of crypto payment providers pledging to offset carbon emissions from transaction processing, appealing to eco-conscious consumers and businesses.
Conclusion
As we step into 2024, crypto payment gateways continue to evolve rapidly, driven by technological innovation, increasing adoption, and regulatory clarity. With businesses and consumers alike recognizing the benefits of faster, more secure, and cost-effective transactions, the future of crypto payment gateways looks promising. From innovations in blockchain security to partnerships with mainstream financial services, crypto gateways are positioning themselves as a key component of the global payment landscape. With crypto payment volume set to grow significantly, these gateways stand as a bridge between traditional finance and the digital economy, supporting the next wave of financial inclusion and cross-border commerce.
Sources
Barry Elad
Barry Elad is a dedicated tech and finance enthusiast, passionate about making technology and fintech concepts accessible to everyone. He specializes in collecting key statistics and breaking down complex information, focusing on the benefits that software and financial tools bring to everyday life. Figuring out how software works and sharing its value with users is his favorite pastime. When he's not analyzing apps or programs, Barry enjoys creating healthy recipes, practicing yoga, meditating, and spending time in nature with his child. His mission is to simplify finance and tech insights to help people make informed decisions.
