Tangem Doubles Annual Revenue to Over $60M as Self-Custody Trends Evolve

Tangem, a Switzerland-based crypto wallet provider, reported a 102% increase in annual revenue in 2025, reaching $61.3 million. The company attributed this growth to recurring in-app usage rather than one-off hardware wallet sales. Monthly active users increased by 50%, driven by NFC-enabled hardware connecting directly to a smartphone app.

The firm is now emphasizing a strategy of 'active self-custody', where users can store, grow, and spend digital assets without compromising on security. This includes integrations like Aave for yield generation on stablecoins and the development of Tangem Pay, a non-custodial payment feature linked to a Visa card supporting USDC transactions.

The broader crypto market is witnessing a shift from rigid 'hot' or 'cold' wallet distinctions toward hybrid solutions that blend security with onchain utility. Tangem's growth reflects a broader trend of users preferring daily engagement with DeFi protocols through secure interfaces.

Why Did Tangem Experience This Growth?

Tangem's success is linked to its mobile-first design, which replaces traditional hardware wallet interfaces with NFC-enabled cards and rings. This design encourages daily interaction with digital assets, supporting the firm's focus on active self-custody and DeFi access.

The company introduced Tangem Pay, a non-custodial payment feature that enables USDC transactions via a Visa card. This feature, along with the integration of Aave for yield generation on stablecoins, has increased user engagement and retention.

What Is the Market Implication of This Shift?

The shift toward active self-custody reflects growing demand for solutions that combine security with utility. Hybrid custody models, like Tangem's, are gaining traction as they allow users to maintain control over their assets while participating in DeFi protocols.

This trend has broader implications for the crypto wallet industry, where rigid 'hot' or 'cold' distinctions are being replaced by flexible models that enable daily onchain engagement. The success of Tangem suggests that user experience and recurring engagement are becoming key drivers of growth in the sector.

What Are Analysts Watching in the Coming Months?

Analysts are observing how Tangem plans to expand its hardware offerings in 2026. The company is also expected to launch a mobile wallet to onboard new users to self-custody. These developments will be important indicators of Tangem's ability to sustain its growth momentum.

Meanwhile, the broader digital payments market is also expected to grow significantly, particularly in the Middle East and North Africa (MENA) region. This growth is being driven by real-time payment systems, government-led cashless initiatives, and the expansion of cross-border e-commerce.

Tangem's performance is being compared to other crypto firms such as Bakkt, which reported a 32% decrease in Q4 2025 revenue, attributed to lower crypto trading volume and an amended Webull agreement. Analysts are watching whether Tangem can maintain its momentum amid broader market volatility.