EXCLUSIVE: Hardware wallets aren’t just for storage anymore.
Switzerland-based Tangem just doubled revenue to $60M+, a 102% YoY growth.
The driver? Not just hardware sales — but users actually using their wallets.
Tangem says users no longer want to choose between:
Security 🔒
Utility ⚡
They want both.
And that’s fueling a massive corporate shift as wallets evolve into full financial apps.
Tangem has bet big on this trend so far.
The result:
• $61.3M revenue
• +102% YoY growth
• +50% jump in active users
DeFi access, yield, payments… all from self-custody.
Users want cold storage security, without being cut off from DeFi.
"Historically, the cold storage market has been cyclical — driven largely by market panic and black swan events — but we broke that cycle by turning passive into active daily finance," Tangem's CEO and co-founder Andrey Kurennykh, told @TheBlockCo
Is “Hybrid custody” the crypto wallet trend?
