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Today, TikTok ranks as the fifth largest social media platform globally, used by 31% of social media users and 30% of all internet users worldwide. Taking things one step further, TikTok is also busy revolutionising social media shopping through its TikTok Shop. Looking to dive in?

If you’re unsure how TikTok Shop works or what payment options are available, you’re in the right place. This guide covers everything you need to know about TikTok Shop payment methods.

What is TikTok Shop?

TikTok Shop is an integrated marketplace where you can purchase products directly through the app. Here you'll find everything from trending fashion items to electronics, all available from both independent sellers and major brands. *It’s worth noting that these are third-party sellers and not from TikTok directly. 

You’ll also need an account to use it. 

Finding TikTok Shop

Getting started is simple:

• Download the TikTok app and create an account if you haven't already
• Look for the Shop icon at the bottom of your screen
• Start browsing products through videos, lives, or the Showcase tab

What payment methods are available on TikTik Shop?

TikTok Shop offers several convenient payment methods to suit your preferences and location:

Card payments

• All major cards accepted (Mastercard, Visa, American Express, Discover - yes, you can also use your Tap card)
• Both credit and debit cards are welcome

Digital wallets

• Apple Pay (iOS users)
• Google Wallet (Android users)
• PayPal

Buy Now, Pay Later

• Klarna: Split larger purchases into four interest-free payments

Making your first purchase

Ready to start shopping? Follow these simple steps:

• Find a product you love
• Click "Add to Cart"
• Hit "Check out" when ready
• Enter your shipping details and billing address
• Select your preferred payment method
• Review your order
• Confirm and place your purchase

Managing your payment methods

To add or change your payment method:

• Visit your TikTok profile
• Select "Your orders"
• Tap "Payments"
• Add new payment methods or set your preferred option

Shopping tips

• Always verify seller ratings and reviews before purchasing
• Check product descriptions and shipping information carefully
• Keep track of your orders through the TikTok app
• Enable notifications to track your order status
• Purchases are eligible for Tap cashback rewards

With these payment options and your Tap card at hand, you're ready to explore everything TikTok Shop has to offer.

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In the continuously evolving landscape of cryptocurrencies, stablecoins stand out as the level-headed cousins of the more volatile digital assets. These cryptocurrencies, designed to maintain a stable value, have been gaining traction in the financial world. However, their rising popularity has not gone unnoticed by regulators, particularly in the European Union.

The EU, known for its proactive stance on financial regulation, has set its sights on stablecoins. Recent developments indicate a significant shift in the regulatory approach, with new rules being implemented that could substantially impact the future of stablecoins in Europe. 

This blog takes a look at the EU's latest regulatory measures, their implications for the stablecoin market, and what this means for the broader cryptocurrency ecosystem.

What is Markets in Crypto-Assets (MiCA)?

The Markets in Crypto-Assets (MiCA) regulation serves as a unified framework to standardise crypto-asset regulation throughout the European Economic Area (EEA). Its goals are to foster innovation while safeguarding consumer interests, ensuring market integrity, and maintaining financial stability. 

By replacing individual national regulations, MiCA creates a consistent approach for crypto-asset service providers and token issuers.

Under Titles III and IV, MiCA’s stablecoin provisions took effect on 30 June 2024. This framework also introduces a licensing process for companies issuing stablecoins within the EEA, meaning that only MiCA-compliant entities will be permitted to issue and distribute stablecoins across the region.

How the EU defines stablecoins

According to the EU's MiCA regulation, stablecoins are categorised into two distinct types:

• E-money tokens (EMTs): These stablecoins are pegged to a single official currency, functioning similarly to electronic money. E.g. USDT and USDC.
• Asset-referenced tokens (ARTs): These stablecoins are backed by multiple assets, such as a diversified basket of currencies, commodities, or other cryptocurrencies. E.g. DAI and PAXG.

Both types are designed to provide stability in the often volatile cryptocurrency market, but each has its own specific regulatory requirements under MiCA.

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Key EU regulations on stablecoins

MiCA imposes restrictions on stablecoin issuance and usage, particularly focusing on their use as a means of exchange for goods and services. This regulation aims to protect monetary sovereignty within the EU.

For foreign currency e-money tokens (like USDC or Tether) and asset-referenced tokens, there are limits on their use for everyday transactions within the EU. However, these limits are specifically designed not to restrict stablecoin use within the crypto world or for broader investment purposes.

The regulation allows for unlimited use of stablecoins for crypto-related activities and investments but aims to limit their use as a replacement for traditional currencies in everyday transactions.

A great takeaway is that the EU is preparing for stablecoins to make a bigger appearance in everyday financial transactions. 

Limits on Transaction Volumes

MiCA sets daily limits on non-EU currency stablecoins used "as a means of exchange within a single currency area." Issuers are required to halt issuance if daily usage surpasses 1 million transactions or €200 million.

However, several exclusions reduce the scope of these limits:

• Transactions involving at least one party outside the EU are exempt.
• Investment-related transactions, including those involving crypto assets, are excluded.
• Transactions between non-custodial wallets are not subject to reporting.
• Collateral and derivatives transactions are not counted.

Guidance from the European Banking Authority (EBA) has further clarified these exemptions, suggesting that the impact on stablecoin usage may be minimal. However, for issuers aiming to expand in the EU’s retail payments market, MiCA indicates a clear preference for Euro-based stablecoins over foreign currency alternatives.

Requirements for Stablecoin Issuers

Out of interest, MiCA’s framework also outlines key requirements for stablecoin issuers:

• Reserve Management: Issuers must ensure that reserve assets are effectively managed, remain separate from their own assets, and are not pledged as collateral.
• E-money Token Issuers: These issuers must be licensed either as credit institutions or electronic money institutions (EMIs) and must allow holders to redeem the token’s value against the referenced currency at any time.
• Asset-Referenced Token Issuers: These issuers are required to maintain a reserve to back the token's value, mitigating currency and market risks. They must obtain regulatory authorisation and have their whitepaper approved before launching tokens to the public.
• Reporting: Issuers are also required to submit quarterly transaction volume reports to ensure ongoing compliance with regulatory thresholds.

Final thoughts

The EU’s regulatory approach to stablecoins under MiCA strikes a careful balance between fostering innovation and maintaining financial stability. By categorising stablecoins and setting strategic limitations, the EU signals an openness to progress while emphasising stability. 

Moving forward, we can anticipate a more organised stablecoin market within the EU, with Euro-based options likely leading in routine transactions. In a broader picture, internationally, the EU’s approach may set a regulatory benchmark, encouraging other regions to adopt similar frameworks. 

As this regulatory journey progresses, the global cryptocurrency community will be watching closely to see the impact of the EU’s structured approach.

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Planning a Spanish getaway? Don't let cash concerns dampen your fiesta spirit! At Tap, we're all about making your travel experiences seamless and stress-free. So, we've put together this handy guide to help you navigate the world of Spanish ATMs like a pro.

Finding ATMs in Spain

Good news: finding ATMs in Spain is much easier than finding the perfect paella. ATMs (or "cajeros automáticos" as the locals call them) are as abundant in Spain as sunshine and siestas. You'll find them:

• At airports 
• Along bustling high streets
• In shopping centers 
• Outside bank branches

Pro Tap Tip: Heading off the beaten path? Rural areas might be a bit trickier for ATM hunting. Pack some extra euros if you're venturing into Spain's charming countryside.

Will your card work? (spoiler: probably)

You're golden if you've got your Tap card in your wallet! Visa and Mastercards are widely accepted across Spain, as well as American Express, but be sure to check with the restaurant before settling in. 

Withdrawal limits

Expect to be able to withdraw between €300 to €1,000 per transaction. But remember, your UK bank might have its own daily limit. Check before you travel.

With regards to your Tap card, most plans offer a monthly card spending limit of €15,000 and free ATM withdrawals of up to €500. The Prestige and Platinum account options offer more. 

Navigating ATM fees

Let's talk about those hidden fees:

1. Exchange rate fees: Always choose to be charged in euros. Trust us on this one – it'll save you from sneaky exchange rate markups.
2. ATM fees: Spanish ATMs might charge a small fee (usually under €1). But watch out for those privately-owned machines – they can be pricey.
3. Your bank's fees: Some UK banks charge for overseas withdrawals. Check your terms before you fly. (As mentioned above, Tap offers free ATM withdrawals up to €500 on most plans).

Tap's top tips for ATM triumph

1. Airport ATMs: Convenient? Yes. Expensive? Also yes. Use as a last resort only.
2. Bank partnerships: Check if your bank has Spanish besties. You might score some free withdrawals.
3. Go local: Always choose to be charged in euros. 
4. Spread the love: Make fewer, larger withdrawals to minimise per-transaction fees.

Why Tap is your perfect travel companion

While we can't accompany you on your tapas tour or salsa lessons, Tap can make your Spanish spending spree a breeze. With our multi-currency account and card:

• Spend like a local in 150+ countries (including Spain, of course)
• Enjoy fee-free ATM withdrawals up to €500 per month
• Get real-time exchange rates that won't break the bank
• Keep an eye on all your transactions in real time in one convenient location - your phone.

Ready to make your Spanish adventure as smooth as possible? Download the Tap app and say "¡Adiós!" to travel money worries. Psst be sure to order your card before you leave, we’ll deliver it to your door in no time. 

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Decoding the disconnect: America's cautious approach to crypto
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Decoding the disconnect: America's cautious approach to crypto

A Look at the Current State of Crypto Trust

General Public Sentiment

Demographics of Crypto Adopters

1. Age Groups

2. Income Levels

3. Educational Background

Key Trust Barriers

The Top Concerns of Sceptics

Volatility

Security

Regulatory Uncertainty

The growing integration of digital assets in daily life

The Rise of Central Bank Digital Currencies (CBDCs)

Building Trust Through Technology and Education

Financial Literacy Initiatives

The Future of Digital Asset Adoption

Projections for Crypto Usage in the Next 5-10 Years

Potential Impact on Traditional Banking and Finance

Bridging the trust gap in crypto adoption

Bitcoin and the broader crypto market have soared to a staggering $2.1 trillion in value, but why does skepticism still linger among so many Americans? 

Despite increasing adoption, digital currencies remain shrouded in doubt, revealing a significant trust gap that continues to challenge the industry. As cryptocurrencies become more woven into everyday financial transactions, closing this trust deficit is essential for ensuring sustained growth and mainstream acceptance.

In this article, we'll dive into the key reasons behind this persistent mistrust, uncover the expanding real-world uses of digital assets, and explore how education and technological advancements can help bridge the confidence gap. Keep in mind, the data presented draws from multiple studies, so some figures and age groupings may vary slightly.

A Look at the Current State of Crypto Trust

To truly understand cryptocurrency adoption and the accompanying trust issues, it’s essential to examine the latest statistics and demographic data. This section breaks down public sentiment toward crypto and provides a snapshot of its user base.

General Public Sentiment

Percentage of Americans Who Own Cryptocurrency

Cryptocurrency adoption has seen slow but steady growth over the years. According to surveys conducted by Pew Research Center in 2021 and 2023, 17% of Americans have invested in, traded, or used cryptocurrency, up slightly from 16% in 2021. 

While estimates vary, Security.org places this figure higher, estimating that roughly 40% of the U.S. population - around 93 million adults - own some form of cryptocurrency.

Both studies agree that younger generations are driving much of this growth, with 30% of Americans aged 18-29 reporting they have experience with crypto.

Trust Levels in Cryptocurrency

Despite rising adoption rates, trust in cryptocurrency remains a significant hurdle. Pew Research Center found that 75% of Americans have little or no confidence that cryptocurrency exchanges can safeguard their funds. Similarly, a recent report by Morning Consult shows that 7 in 10 consumers familiar with crypto express low or no trust in it. 

This contrasts the 31% who have some or high trust, or the 24% in the Pew study who are “somewhat” to “extremely” confident in cryptocurrencies.

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Demographics of Crypto Adopters

1. Age Groups

Cryptocurrency adoption trends reveal a distinct generational divide. According to the 2023 Morning Consult survey, Gen Z adults (ages 18-25) lead in crypto ownership at 36%, closely followed by Millennials at 30%. 

These younger groups are also more inclined toward future investments, with 39% of Gen Z and 45% of Millennials planning to invest in crypto in the coming years. Over half of both generations view cryptocurrency and blockchain as the future, while a notable percentage (27% of Gen Z and 21% of Millennials) considered opening an account with a crypto exchange in the past year.

When compared to other asset classes, data from Bankrate’s 2021 survey reveals that younger Millennials (ages 25-31) favor real estate and stock market investments, while Baby Boomers have the least interest in cryptocurrency. Older Millennials (32-40) lean toward cash investments, with cryptocurrency’s appeal steadily declining with age.

Interestingly, the report also highlights gender differences, showing that 80% of women familiar with crypto express low confidence, compared to 71% of men, indicating a broader trust gap among female users.

2. Income Levels

Contrary to common assumptions, cryptocurrency adoption is not confined to high-income individuals. The same Pew Research Center survey revealed that crypto ownership is relatively evenly spread across income brackets:

• 13% of those earning less than $56,600 annually own crypto.
• 19% of those earning between $56,600 and $169,800 own crypto.
• 22% of those earning over $169,800 own crypto.

This data suggests that while higher earners may be more inclined to own cryptocurrency, the appeal of digital assets spans various income levels.

3. Educational Background

Education also plays a role in crypto adoption. A 2022 report by Triple-A found that the majority of crypto owners are “highly educated”:

• 24% of crypto owners have graduated from middle or high school.
• 10% have some vocational or college education.
• 39% are college graduates.
• 27% hold postgraduate degrees.

This shows that while those with some college education or a degree are more likely to own crypto, it is not exclusively a pursuit of the highly educated.

This demographic data paints a picture of cryptocurrency adopters as predominantly younger, spread across a range of income levels, and with diverse educational backgrounds. However, the trust gap between crypto and traditional financial systems remains a significant barrier to wider acceptance of digital assets.

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Key Trust Barriers

To bridge the gap between cryptocurrency adoption and trust, it’s crucial to understand the major concerns fueling skepticism. This section explores these concerns and contrasts them with similar risks in traditional financial systems.

The Primary Concerns of Skeptics

Volatility

One of the most significant barriers to cryptocurrency adoption is its notorious volatility, particularly for investors seeking stable, long-term assets. Bitcoin, the most well-known cryptocurrency, symbolizes this risk.

In 2022, Bitcoin’s volatility was stark. Its 30-day volatility reached 64.02% in June, driven by broader economic uncertainty and market downturns, compared to the S&P 500’s much lower volatility of 4.71% during the same period. 

Over the course of the year, Bitcoin’s price swung from a peak of $47,835 to a low of $18,490, marking a substantial 61% decline from its highest point in 2022. Factors such as rising interest rates, geopolitical tensions, and major crypto market disruptions, like the TerraUSD collapse and Celsius’ liquidity crisis, played a pivotal role.

This extreme volatility reinforces the perception of cryptocurrencies as high-risk investments.

However, traditional stock markets, while typically more stable than crypto, can also experience sharp fluctuations, especially in times of economic stress. For instance, the CBOE Volatility Index (VIX), which measures expected near-term volatility in the U.S. stock market, dropped by 23% to 28.71 on June 30, 2022, far below the 82.69 peak recorded during the early COVID-19 market turbulence in March 2020. This shows that even stock markets, generally seen as safer, can experience moments of intense volatility, particularly during global crises.

Additionally, when compared to the "Magnificent Seven" (a group of top-performing and influential stocks) Bitcoin’s volatility doesn't stand out as unusual. In fact, over the past two years, Bitcoin has shown less volatility than Netflix (NFLX) stock. 

On a 90-day timeframe, NFLX had an average realized volatility of 53%, while Bitcoin’s was slightly lower at 46%. The reality is that among all S&P 500 companies, Bitcoin has demonstrated lower annualized historical volatility than 33 of the 503 constituents. 

In October 2023, Bitcoin was actually less volatile than 92 stocks in the S&P 500, based on 90-day realized historical volatility figures, including some large-cap and mega-cap companies.

Security

Security concerns are another major hurdle in building trust with cryptocurrencies. Cryptocurrency exchanges and wallets have been targeted by numerous high-profile hacks and frauds, raising doubts about the safety of digital assets. It comes as no surprise that a study from Morning Consult found that 67% of Americans believe having a secure and trustworthy platform is essential to entering the crypto market.

While security threats in the crypto space are well-documented, traditional banking systems are not immune to fraud either. Federal Trade Commission data reveals that consumer fraud losses in the traditional financial sector hit a record high of $10 billion in 2023, marking a 14% increase from the previous year.

 Although traditional banks have more safeguards in place to protect consumers, they remain vulnerable to attacks, showing that security is a universal challenge across both crypto and traditional finance. 

Prevention remains key, which in this case equates to using only reliable platforms or hardwallets. 

Regulatory Uncertainty

Regulatory ambiguity continues to be a critical barrier for both cryptocurrency investors and businesses. The evolving landscape creates uncertainty about the future of digital assets.

Currently, cryptocurrency is legal in 119 countries and four British Overseas Territories, covering more than half of the world’s nations. Notably, 64.7% of these countries are emerging and developing economies, primarily in Asia and Africa. 

However, only 62 of these 119 countries (52.1%) have comprehensive regulations in place. This represents significant growth from 2018, when only 33 jurisdictions had formal regulations, showing a 53.2% increase, but still falls short in creating a sense of “unified safety”.

In the United States, regulatory views remain fragmented. Various agencies, such as the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), have conflicting perspectives on how to classify and regulate cryptocurrencies. Since 2019, the SEC has filed over 116 crypto-related lawsuits, adding to the regulatory uncertainty faced by the industry.

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The Growing Integration Of Digital Assets In Daily Life

As we progress further into the digital age, cryptocurrencies and digital assets are increasingly becoming part of our everyday financial transactions. This shift is driven by two key developments: the rise of crypto payment options and the growing adoption of Central Bank Digital Currencies (CBDCs).

According to a MatrixPort report, global cryptocurrency adoption has now reached 7.51% of the population, underscoring the expanding influence of digital currencies worldwide. By 2025, this rate is expected to surpass 8%, signaling a potential shift from niche usage to mainstream acceptance.

The list of major retailers embracing cryptocurrency as a payment method continues to grow. Some notable companies now accepting crypto include:

• Microsoft: Accepts Bitcoin for Xbox store credits.
• AT&T: The first major U.S. mobile carrier to accept crypto payments.
• Whole Foods: Accepts Bitcoin via the Spedn app.
• Overstock: One of the first major retailers to accept Bitcoin.
• Starbucks: Allows customers to load their Starbucks cards with Bitcoin through the Bakkt app.

A 2022 Deloitte survey revealed that nearly 75% of retailers plan to accept either cryptocurrency or stablecoin payments within the next two years. This trend highlights the growing mainstream acceptance of digital assets as a legitimate payment method.

Crypto-backed debit cards are further bridging the gap between digital assets and everyday transactions. These cards enable users to spend their cryptocurrency at any merchant that accepts traditional debit cards. 

According to Factual Market Research, the global crypto card market is projected to reach $9.5 billion by 2030, with a compound annual growth rate (CAGR) of approximately 31.6% from 2021 to 2030. This growth reflects the increasing popularity of crypto-backed debit cards as a way for consumers to integrate their digital assets into daily spending.

The Rise of Central Bank Digital Currencies (CBDCs)

Central Bank Digital Currencies (CBDCs) represent digital versions of a country’s fiat currency, issued and regulated by the national monetary authority. In 2024, the global progress of CBDCs has seen a significant uptick, with marked advances in both research and adoption. As of this year:

• 11 countries have fully launched CBDCs, including the Bahamas, Nigeria, Jamaica, and China.
• 44 countries are conducting pilot programs, up from 36, reflecting growing interest in testing the functionality and stability of digital currencies.
• 66 nations are at advanced stages of CBDC development, contributing to a global landscape where 134 countries (accounting for 98% of the world’s economy) are engaged in CBDC projects.

In the United States, the Federal Reserve is exploring the feasibility of a CBDC through Project Hamilton, a collaborative research initiative with MIT. This exploration aligns with broader goals to reduce reliance on cash, enhance financial inclusion, and improve control over national monetary systems amid the rise of digital payments and cryptocurrencies.

The introduction of CBDCs could significantly reshape daily financial transactions in several ways:

• Increased financial inclusion: CBDCs could offer digital payment access to the 1.4 billion adults who remain unbanked, according to World Bank estimates.
• Faster and cheaper transactions: CBDCs could streamline both domestic and cross-border payments, reducing costs and settlement times.
• Enhanced monetary policy: Central banks would gain more direct control over money supply and circulation.
• Improved traceability: CBDCs could help combat financial crimes and reduce tax evasion by providing greater transaction transparency.

However, challenges persist, including concerns about privacy, cybersecurity risks, and the potential disruption of existing banking systems.

As digital assets continue to integrate into everyday life, they hold the potential to transform how we think about and use money. Despite these challenges, trends in both private cryptocurrency adoption and CBDC development point to a future where digital assets play a central role in our financial systems.

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Building Trust Through Technology and Education

According to the 2023 Web3 UI/UX Report, nearly 48% of users cite security concerns and asset protection as the primary barriers to crypto adoption. Other challenges include high transaction fees and the steep learning curve needed to fully grasp both the technology and its benefits.

Despite these obstacles, the blockchain sector has made significant strides as it matures, particularly in enhancing security. Hack-related losses in the crypto market dropped from $3.7 billion in 2022 to $1.8 billion in 2023, underscoring the progress in safeguarding digital assets.

The increased adoption of offline hardware wallets and multi-signature wallets, both of which add critical layers of security, reflects this momentum. Advances in smart contract auditing tools and stronger compliance standards are also minimizing risks, creating a safer environment for both users and institutions. 

These improvements highlight the industry’s commitment to establishing a more secure foundation for digital transactions and bolstering confidence in blockchain as a reliable financial technology.

In another positive development, in May 2023, the European Council approved the first comprehensive legal framework for the cryptocurrency industry. This legislation sets a new standard for regulatory transparency and oversight, further reinforcing trust.

Financial Literacy Initiatives

The rise of crypto education in the U.S. is playing a pivotal role in increasing public understanding and encouraging adoption. Programs such as Coinbase Earn aim to simplify the onboarding process for new users, directly addressing the complexity and security concerns that often deter people from engaging with crypto.

According to recent data, 43% of respondents feel that insufficient knowledge is a key reason they avoid the sector, highlighting the ongoing need for crypto-related learning. 

Additionally, Chainalysis' 2024 Global Crypto Adoption Index noted a significant increase in crypto interest following the launch of spot Bitcoin ETFs in the U.S. earlier in the year. This development enabled investors to trade ETF shares tied to Bitcoin directly on stock exchanges, making it easier to enter the market without needing extensive technical expertise - thus driving a surge in adoption.

These advancements in security and education are gradually fostering greater trust in the cryptocurrency ecosystem. As the sector continues to evolve, these efforts may pave the way for broader adoption and deeper integration of digital assets into daily financial life.

The Future of Digital Asset Adoption

As digital assets continue to evolve and capture mainstream attention, their potential to transform the financial landscape is becoming increasingly evident. From late 2023 through early 2024, global crypto transaction volumes surged, surpassing the peaks of the 2021 bull market (as illustrated below).

Interestingly, much of this growth in adoption was driven by lower-middle income countries, highlighting the global reach of digital assets.

Below, we explore projections for cryptocurrency usage and its potential impact on traditional banking and finance.

Projections for Crypto Usage in the Next 5-10 Years

Several studies and reports offer insights into the expected growth of cryptocurrency over the next decade:

Global Adoption
The global cryptocurrency market revenue is projected to reach approximately $56.7 billion in 2024, with the United States leading the charge, expected to generate around $9.8 billion in revenue. Statista predicts the number of global crypto users will hit 861 million by 2025, marking a significant shift toward mainstream use.

Institutional Adoption
The 2023 Institutional Investor Digital Assets Study found that 65% of the 1,042 institutional investors surveyed plan to buy or invest in digital assets in the future. 

As of 2024, digital currency usage among U.S. organisations is expanding, particularly in sectors such as finance, retail, and technology. Hundreds of financial services and fintech firms are now involved in digital assets, whether in payment processing, investments, or blockchain-based applications. This includes major companies utilising cryptocurrencies as stored value and exploring stablecoin use cases to enhance transaction efficiency.

Notably, major U.S. companies are increasingly engaging with blockchain and digital assets, as regulatory clarity improves and security concerns are addressed.

Retail Adoption
At present, about 85% of major retailers generating over $1 billion in annual online sales accept cryptocurrency payments. In contrast, 23% of mid-sized retailers, with online sales between $250 million and $1 billion, currently accept crypto payments. This growing trend points to an expanding role for digital assets in retail, especially among large-scale businesses.

Potential Impact on Traditional Banking and Finance

The rise of digital asset utilisation is poised to reshape traditional banking systems in multiple areas. For starters, the growth of blockchain technology and digitised financial services is driving the decentralised finance (DeFi) market, which is projected to reach $450 billion by 2030, with a compound annual growth rate (CAGR) of 46%.

In Q3 2024 alone, trading on decentralised exchanges surpassed $100 billion, marking the third consecutive month of growth in trading volume. This trend underscores the increasing interest and activity in the decentralised finance space.

As Central Bank Digital Currencies (CBDCs) are likely to be adopted by 80% of central banks by 2030, the role of commercial banks in money distribution could diminish significantly. Meanwhile, blockchain technology and stablecoins are expected to revolutionise cross-border B2B payments, with 20% of these transactions powered by blockchain by 2025. Stablecoin payment volumes are projected to hit $620 billion by 2026.

Furthermore, the investment landscape is set to evolve as asset tokenisation scales, potentially reaching a value of $16 trillion, making crypto a standard component in investment portfolios. 

With regulatory clarity expected to improve - more than half of financial institutions anticipate clearer rules within the next three years - crypto integration is likely to become more widespread. These developments emphasise the transformative potential of digital assets across payments, investments, and financial structures globally.

Bridging the trust gap in crypto adoption

The cryptocurrency landscape is experiencing a surge in institutional interest, which could be a pivotal moment for integrating digital assets into traditional finance. Financial giants like BlackRock are at the forefront of this movement, signaling a shift in mainstream perception and adoption of cryptocurrencies.

Historically, the introduction of new investment vehicles around Bitcoin has spurred market growth. As Markus Thielen, founder of 10x Research, highlights, the launch of spot ETFs could bring about a new wave of institutional involvement, potentially driving the next phase of market expansion.

This growing institutional momentum, combined with evolving regulatory frameworks, is reshaping the crypto ecosystem. However, a key question remains: Will these developments be enough to close the trust gap and push cryptocurrencies into mainstream adoption?

As we stand at this crossroads, the future of digital assets hangs in the balance. The coming years will be critical in determining whether cryptocurrencies can overcome persistent skepticism and fully integrate into the global financial system, or if they will remain a niche, yet impactful, financial instrument.
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With billions of credit, debit and prepaid cards in circulation around the world, they are undoubtedly a permanent fixture in the payments sector. According to Statista, over the two-year period from 2019 to 2021, the total number of credit, debit, and prepaid cards globally increased by 2 billion, reaching 25.2 billion cards, with this volume projected to grow by 21% between 2021 and 2025 before stabilising.

Further on this, the payments landscape has evolved to include a wide array of digital payment methods beyond just traditional cards. These include enabling payments via SMS on mobile phones, "Buy Now, Pay Later" financing schemes, mobile wallets, contactless payments leveraging Near Field Communication technology, QR code-based transactions, and cryptocurrency payments.

As these trends continue developing, a prominent feature on the landscape is customizable white-label cards, which while tailored to the unique needs of the client, can incorporate any of these methods mentioned above. Let’s explore the white-label card market. 

What is a white-label card?

To recap, white-label products and services are made by a third party but sold under a distinct brand, allowing that brand to seamlessly use the infrastructure already established by the third party. This practice has expanded beyond retail into the financial sector, enabling businesses to offer their own branded payment cards.

With white-label card issuing, a company can issue cards under its own branding, while the underlying functionality and processing are provided by third-party services. This allows the business to introduce branded cards without the complexity of obtaining a separate issuing licence required in the regulated financial sector.

As an example, in 2023, Bitfinex, a prominent cryptocurrency exchange platform, partnered with Tap to offer a white-label prepaid card solution. This allowed Bitfinex to provide its clients with a branded payment option while generating a new revenue stream, leveraging Tap's underlying financial infrastructure.

The many white-label card solutions

White-label payment cards come in various forms to suit diverse financial needs:

Debit cards 

Provide access to bank account funds for daily transactions and ATM withdrawals.

Credit cards 

Allow borrowing up to a limit, similar to traditional credit.

Prepaid cards 

Loaded with a set amount for budgeting and spending control.

Virtual cards 

Exist only digitally for secure online payments.

Payroll cards

Where employers directly deposit wages, eliminating the need for cash or direct transfers.

Expense cards

With specific purposes and spending limits or restrictions, like for business expenses.

The advantages of white-label cards for consumers

While the benefits of white-label cards are typically associated with businesses, there are several advantages for the consumer, too. 

• Customised perks

White-label cards provide tailored rewards, discounts, and exclusive offers to enhance the shopping experience and deliver savings.

• Streamlined shopping experiences

These cards can streamline purchases within specific stores or brands, making transactions convenient and focused on preferred retailers.

• Improved credit access

Consumers with diverse credit profiles can often access white-label cards, enabling them to build or improve their credit history through responsible usage.

The advantages of white-label cards for businesses

White-label card issuing provides businesses with several key advantages:

• Distinctive branding

Cards can be tailored to match the business's branding, enhancing visibility and customer recognition.

• Quick market entry

Partnering for white-label issuance enables a quick introduction of new card offerings, establishing a market presence before saturation.

• Reduced development costs

Businesses can offer branded cards without the expense of developing a full card program from scratch, instead leveraging already established payment infrastructure. 

• Increased customer engagement

Branded cards with rewards, discounts, or exclusive benefits can foster loyalty and repeat business with new or established customers.

• Seamless operations

By tapping into an established infrastructure, businesses ensure seamless functionality, security, and dependability for cardholders.

Industries utilising white-label cards

White-label card issuing has emerged as a versatile solution, catering to the needs of diverse industries, from neobanks and retailers to gig platforms and fleet management.

Retail and E-commerce

White-label credit programs allow retailers to provide customers with relaxed payment terms, encouraging higher spending through the convenience of deferred payment. Customers often earn loyalty rewards, fostering repeat business. Retail giants frequently offer private-label credit cards, such as Amazon's virtual cardless solution and its Prime Store Card.

Neobanks

Many neobanks have adopted white-label card solutions, like Revolut, enabling seamless multi-currency spending, especially for international travel. Revolut empowers customers with full control over their banking experience, offering a choice between NFC and magnetic stripe payment preferences.

Corporate cards

For large organisations, white-label corporate credit cards integrated into expense management programs can streamline processes, eliminating the need for manual tasks like expense reporting and payroll management.

Fuel cards for fleets

Fleet white-label cards are specialised payment solutions tailored for businesses operating vehicle fleets. These cards, often offered in collaboration with financial institutions, streamline expense management and provide benefits like fuel discounts.

Gig economy

As gig platforms continue to rise, integrating white-label card solutions has become a notable advancement. Fiverr, a freelance services platform, has embraced white-label cards to enhance user experience, enabling swift transactions and access to earnings.

The current state of the white-label card sector

The white-label card market is experiencing substantial growth and innovation, presenting significant opportunities across industries. These white-label solutions, including debit, credit, and prepaid cards, enable companies to customise payment gateways and card products as their own, without the overhead of building infrastructure from scratch.

Businesses like e-commerce platforms, SaaS providers, financial institutions, and online marketplaces commonly benefit from white-label cards. These offerings allow companies to strengthen their brand, enhance customer loyalty, and unlock new revenue through tailored loyalty programs and rewards.

A key advantage of white-label cards is their adaptability. They support various payment methods, accommodate international transactions, and integrate seamlessly with existing systems, providing a streamlined customer experience. This flexibility extends to virtual cards, which are gaining popularity for their ease of use in digital payments.

In summary, the white-label card sector offers a robust platform for businesses to expand payment solutions with minimal infrastructure investment, enhancing their service offerings and customer engagement.

For more information on issuing your own white-label card, you can learn more about Tap’s business services on the website here and contact Tap here. 

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In today's global economy, managing your finances, both crypto and fiat, across borders has never been more important. With this in mind, we’ve created innovative solutions for both personal and business users with the Tap Personal Account and Tap Business Account. 

While both accounts share some core features, they each cater to specific needs. Let's dive into the details to help you choose the right account for your financial journey. 

Shared features: the Tap advantage

Both Tap Personal and Tap Business accounts offer a range of powerful features designed to simplify your financial life:

• Multi-currency capabilities: Hold, send, and receive money in multiple currencies.
• Competitive exchange rates: Enjoy favourable rates when converting between currencies.
• Low-fee international transfers: Send money abroad without breaking the bank.
• Tap card: A versatile debit card for spending in multiple currencies worldwide.
• User-friendly mobile app: Manage your finances on the go with ease.
• Cashback rewards: earn up to 8% Cashback on any card or online transactions.
• Money management on the go: Get real-time notifications on transactions and monthly statements.

Tap Personal Account: personal finance, globalised

The Tap Personal Account is perfect for individuals who:

• Live, work, or travel internationally
• Need to send money to family or friends abroad
• Want to shop online in different currencies
• Seek a hassle-free way to manage personal finances across borders
• Are savvy investors looking to manage multiple currencies in one secure location

Key features of the Tap Personal Account include:

1. Easy account opening: Get started quickly with a simple online process.
2. Free local account details: Receive payments like a local in multiple countries.
3. Instant transfers: Send money to other Tap users in seconds, for free.

Tap Business Account: powering global commerce

The Tap Business Account is tailored for:

• Small to medium-sized businesses
• Companies with international operations
• Startups looking to scale globally

In addition to the features shared with the Tap Personal Account, the Tap Business Account offers:

1. Multi-currency access: Easily set up checkout payment channels for crypto and major national currencies with access to local and international payment rails.
2. Crypto to fiat: Receive and send over 45 cryptocurrencies directly from your account with an institutional-grade OTC desk. 
3. Payment links: Get an individual IBAN and receive and send payments in EUR and GBP with SEPA Instant
4. White card labelling service: Create customisable cards for your business or clients using the integrated service. 
5. Cheaper payroll payments: Avoid bank fees when making multiple payments efficiently, perfect for paying salaries or multiple suppliers.
6. Access to an account manager: each company is assigned a dedicated account manager.

Making the right choice

Choosing between a Tap Personal Account and a Tap Business Account depends on your specific needs:

• If you're an individual looking to simplify your personal international finances, the Tap Personal Account is your go-to solution.
• For businesses of any size aiming to streamline their global financial operations, the Tap Business Account offers the advanced features you need to thrive in the international marketplace.

Both accounts reflect Tap's commitment to providing innovative, user-friendly financial solutions for our increasingly connected world. Whether you're planning your next international adventure or expanding your business across borders, Tap has you covered.

Ready to take control of your global finances? Visit withtap.com to learn more and download the app, and sign up for the account that best suits your needs.