Cryptocurrency’s Growth in New Zealand – The Facts and Figures
Cryptocurrency is often seen by the wider market as an investment or a trading vehicle rather than a part of day to day financial activity. However, according to some estimates more than 30% of New Zealanders own crypto, which is around 1.5 million people, and up to 50% have at one point owned some or are considering. Even if only a small percentage of that group use it as a payment alternative, that’s a significant market. And the evidence says that commercial adoption is growing, if slowly. So how does crypto work for commercial transactions, and what makes it different to ewallets or bank payments?
Cryptocurrencies are popular with people making global transactions who want to use a fast, decentralized option that doesn’t rely on big banks. There are physical businesses in NZ that accept crypto payments, as well as hundreds of crypto ATMs, and there have been for years. They are a steady but still relatively niche option, although regulation could change that soon. Online businesses are more popular for BTC transactions however, with casinos in particular a popular and growing market. This article will look at how crypto is being adopted by Kiwis right now, and how the market could shape up in the future.
Awareness and Ownership Rates Are Both Growing Steadily
Crypto ownership is New Zealand is growing considerably, but market research shows awareness is almost nationwide at this point. Bitcoin continues to dominate ownership as the headline coin and the most valuable. Some 50% of NZ crypto transactions involve Bitcoin. When BTC reached new highs in 2025, so the did the number of New Zealanders involved in the market.
As ownership grows people are also increasingly using crypto for online transactions. Various online entertainment options now offer crypto payments. For example the best crypto casinos in new zealand will offer Bitcoin deposits and withdrawals, as well as popular alt coins like Ethereum and USDT, all of which can then be used to play casino games from globally trusted developers.
Some 559 million people worldwide own crypto and it is estimated that at least 50-plus million of them have used crypto for online gambling. It’s hard to know the exact numbers as crypto casinos tend not be to publicly traded with easily accessible financial info, but the biggest operators have published data suggesting they have tens of millions of customers.
However, the growth of crypto has not gone unnoticed by the NZ government either. In late 2025 Associate Justice Minister Nicole McKee announced a new bill that aims to ban cryptocurrency ATMs in the country, as part of a raft of other financial regulation changes.
Adoption for Commercial Payments is Happening but Slowly
The number of Kiwi merchants offering bitcoin and other crypto payments at checkout is growing, but not very fast. The inherent volatility of crypto has stymied mass commercial adoption – although new tech is changing that – and New Zealand’s regulators are so far proceeding cautiously.
Nevertheless, there are dozens of crypto-accepting businesses in NZ, and online the numbers are far higher. Proponents of commercial crypto transactions say it offers:
- Faster and cheaper payments for businesses
- No risk of chargeback scams
- Independence from big banks and card payment processors
- 24/7 cross border payments when needed
New crypto payment processors can also convert crypto to NZD at point of sale, eliminating the need for businesses to hold potentially volatile crypto reserves themselves. Crypto payments often cost businesses 0.5% to 1% per transaction which undercuts many NZ banks cards considerably.
Regulation, Innovation and the Future of the Sector
With around 10% of the world’s population now owning crypto, governments have been sitting up and taking notice. Crypto-based businesses in the country are worth some $200 million but the future of the sector in New Zealand will involve both political, cultural and economic forces
Despite some social media speculation, there is no evidence New Zealand’s government or big banks own any crypto assets.
On the regulation side, from April 2026 NZ-based businesses dealing with crypto will be forced to adhere to global reporting standards under the Organisation for Economic Co-operation and Development’s framework for Crypto-Asset Reporting. There’s also the aforementioned upcoming cryptocurrency ATM ban, although no law has yet passed on that front.
In terms of innovation, there have recently been several Kiwi-focused stable coins that are pegged to the NZ Dollar. Although USDT has been popular for years now globally, the changing market sentiment on USD has prompted many crypto enthusiasts to look for stable coin alternatives that match their own local or regional favored currency.
These coins are another way of lessening the risk of volatility in commercial payments. Although crypto is still growing, for it to reach widespread global adoption it will need to simplify access and calm perceptions of the inherent volatility for general consumer use.
In 2025 the NZ Financial Markets Authority set up a regulatory sandbox for fintech (including blockchain and crypto companies) to use for testing innovative products while getting direct regulatory feedback.