Crypto Card Providers Bet on Cross-Selling to Improve Customer Economics

Crypto card firms KAST and Bleap are relying on services beyond card purchases to improve customer economics, as executives describe acquisition spending and cashback-only users as potential sources of losses. KAST CEO Raagulan Pathy said increased growth spending moved the company from near break-even to loss-making. Bleap Latvia CEO Eduards Timofejevs said customers who use only Bleap’s card and collect cashback can be unprofitable. “You take a loss on acquiring the customer at the beginning, but then you sell them more and more features,” Pathy said.