Nordic crypto companies expect that the growth in the number of crypto owners in the Nordic region will continue, that there is now a fundamental shift in the outlook on crypto and that the growth will eventually affect how classical finance relates to crypto.
This is evidenced by comments Kaupr has collected from leading crypto companies in all Nordic countries. The companies agree that crypto ownership is becoming both broader and deeper, although there may be variations between the different Nordic countries. According to the recent Crypto Adoption Survey, 9.6% of the adult population in the Nordic countries own cryptocurrency, led by Norway where the share of crypto owners is 12.3%.
Top from left and towards right: Simon Ousager (January), Emilie Moritz (Safello) and Joonas Järvinen (Kvarn X). Bottom from left to right: Torbjørn Bull Jenssen (K33), Gulli Gislason (Viska Digital Assets) and Matthias Bauer-Langgartner (Chainalysis).
“The Nordic findings all point in the same direction; crypto adoption is increasing across all metrics and groups and although we still see significant differences between countries and genders, adoption is starting to reach a level where anyone offering investment or payment solutions can no longer ignore this demand,” says Simon Ousager in Danish January, commenting on the Danish results as follows:
“I think it's encouraging to see that Danes continue to adopt crypto, but it's also a little disappointing to observe how few Danish crypto transactions occur on Danish platforms. This is likely a result of unclear tax rules, de-banking and the recent absence of local Danish brokers focusing on the local market, Ousager says.
“Across the Nordic region we are seeing a fundamental shift — crypto is no longer a marginal interest, but maturing to become a legitimate and strategic asset class,” says Joonas Järvinen of Finland's Kvarn X.
“Norwegian and Finnish adoption are clearly leading the way in the region, setting the pace with rapidly growing interest from both private individuals and institutions. Other countries such as Sweden and Denmark are following closely behind, with regulatory clarity and infrastructure gradually falling into place.
Järvinen believes that the basic prerequisites - regulation, infrastructure and institutional preparedness - are largely in place. “Now the focus is shifting to accessibility, user training and trust. This means not only making crypto easier to use and understand, but also enabling deeper interoperability between crypto assets and traditional financial services. We are moving from parallel ecosystems towards a more interconnected, hybrid financial future.
“With 550,000 Norwegians — 12.3% of the adult population — owning crypto, that's a strong indicator of sustained interest. The lead can be partly explained by differences in tax rules between Norway and Sweden, which could contribute to Norway's stronger pace of crypto adoption, says Emelie Moritz of Swedish Safello.
Moritz believes that the marginal growth in Swedish crypto ownership over the past year likely reflects the preference among many Swedes for listed products (ETPs) as their primary way of gaining exposure to crypto — What stands out is the unexpected trend of significant growth coming primarily from older age groups in Sweden. We believe this rise of a more mature industry, with clearer regulation, increased institutional involvement and the remarkable progress in the US in strengthening its position in crypto.
“It's great to see continued growth in the number of owners across Scandinavia, especially the rapid increase in crypto adoption among Norwegians over the age of 40 — a clear sign that crypto is no longer just a youth-driven trend,” says Gulli Gislason of Viska Digital Assets, who continues:
“It is encouraging to see that Iceland leads the Nordic region with the smallest gender gap in crypto adoption. Hopefully we will also see stronger expectations for future ownership and increased portfolio value as this asset class becomes more mainstream.
“It is exciting to see the strong growth of crypto in the Nordic region, and going forward I expect the momentum to accelerate further,” says Torbjørn Bull Jenssen, CEO of Norwegian K33. “Cryptocurrencies are now moving from being a niche trading object to becoming a central part of the financial system. Politicians need to wake up to this reality. As a Norwegian, I am proud that Norway is leading the way, but this can change quickly. The crypto market is global by nature, and at K33 we will continue to do what we can to drive growth, not only in Norway, but throughout the Nordic region and beyond,” says Bull Jenssen.
The Crypto Adoption Survey is a population-based survey where a sample of 5,000 people has been asked about their ownership and attitudes towards crypto. But the findings of the survey, according to analytics company Chainalysis, are also supported by onchain data.
“The findings of this survey — which highlights the rise in crypto adoption across the Nordic region — align well with our analysis of on-chain transaction data, which reflects real blockchain activity,” says Matthias Bauer-Langgartner, Head of Policy Europe at Chainalysis.
“As detailed in our Crypto Adoption Report 2024, crypto activity in Europe has increased by 44% year-on-year, with the Nordic region as a key growth driver, the region has outperformed similar continental European jurisdictions and even some of the largest markets in the EU. Our data further confirms that Finland has experienced the fastest growth in the region and now leads in received on-chain value, followed by Sweden, Norway and Denmark.
For more information on the Crypto Adoption Survey and Crypto Adoption Week, including reports and recordings of live broadcasts, see:
Crypto Adoption Week 2025: https://www.kaupr.io/crypto-adoption-2025
Crypto Adoption Week 2024: https://www.kaupr.io/crypto-adoption-2024
Diversity in Crypto 2025: https://www.kaupr.io/diversity-in-crypto-2025
For more news and analysis on adadaptation and other trends ahead, subscribe to the Next newsletter:
Nordic crypto companies expect that the growth in the number of crypto owners in the Nordic region will continue, that there is now a fundamental shift in the outlook on crypto and that the growth will eventually affect how classical finance relates to crypto.
This is evidenced by comments Kaupr has collected from leading crypto companies in all Nordic countries. The companies agree that crypto ownership is becoming both broader and deeper, although there may be variations between the different Nordic countries. According to the recent Crypto Adoption Survey, 9.6% of the adult population in the Nordic countries own cryptocurrency, led by Norway where the share of crypto owners is 12.3%.
Top from left and towards right: Simon Ousager (January), Emilie Moritz (Safello) and Joonas Järvinen (Kvarn X). Bottom from left to right: Torbjørn Bull Jenssen (K33), Gulli Gislason (Viska Digital Assets) and Matthias Bauer-Langgartner (Chainalysis).
“The Nordic findings all point in the same direction; crypto adoption is increasing across all metrics and groups and although we still see significant differences between countries and genders, adoption is starting to reach a level where anyone offering investment or payment solutions can no longer ignore this demand,” says Simon Ousager in Danish January, commenting on the Danish results as follows:
“I think it's encouraging to see that Danes continue to adopt crypto, but it's also a little disappointing to observe how few Danish crypto transactions occur on Danish platforms. This is likely a result of unclear tax rules, de-banking and the recent absence of local Danish brokers focusing on the local market, Ousager says.
“Across the Nordic region we are seeing a fundamental shift — crypto is no longer a marginal interest, but maturing to become a legitimate and strategic asset class,” says Joonas Järvinen of Finland's Kvarn X.
“Norwegian and Finnish adoption are clearly leading the way in the region, setting the pace with rapidly growing interest from both private individuals and institutions. Other countries such as Sweden and Denmark are following closely behind, with regulatory clarity and infrastructure gradually falling into place.
Järvinen believes that the basic prerequisites - regulation, infrastructure and institutional preparedness - are largely in place. “Now the focus is shifting to accessibility, user training and trust. This means not only making crypto easier to use and understand, but also enabling deeper interoperability between crypto assets and traditional financial services. We are moving from parallel ecosystems towards a more interconnected, hybrid financial future.
“With 550,000 Norwegians — 12.3% of the adult population — owning crypto, that's a strong indicator of sustained interest. The lead can be partly explained by differences in tax rules between Norway and Sweden, which could contribute to Norway's stronger pace of crypto adoption, says Emelie Moritz of Swedish Safello.
Moritz believes that the marginal growth in Swedish crypto ownership over the past year likely reflects the preference among many Swedes for listed products (ETPs) as their primary way of gaining exposure to crypto — What stands out is the unexpected trend of significant growth coming primarily from older age groups in Sweden. We believe this rise of a more mature industry, with clearer regulation, increased institutional involvement and the remarkable progress in the US in strengthening its position in crypto.
“It's great to see continued growth in the number of owners across Scandinavia, especially the rapid increase in crypto adoption among Norwegians over the age of 40 — a clear sign that crypto is no longer just a youth-driven trend,” says Gulli Gislason of Viska Digital Assets, who continues:
“It is encouraging to see that Iceland leads the Nordic region with the smallest gender gap in crypto adoption. Hopefully we will also see stronger expectations for future ownership and increased portfolio value as this asset class becomes more mainstream.
“It is exciting to see the strong growth of crypto in the Nordic region, and going forward I expect the momentum to accelerate further,” says Torbjørn Bull Jenssen, CEO of Norwegian K33. “Cryptocurrencies are now moving from being a niche trading object to becoming a central part of the financial system. Politicians need to wake up to this reality. As a Norwegian, I am proud that Norway is leading the way, but this can change quickly. The crypto market is global by nature, and at K33 we will continue to do what we can to drive growth, not only in Norway, but throughout the Nordic region and beyond,” says Bull Jenssen.
The Crypto Adoption Survey is a population-based survey where a sample of 5,000 people has been asked about their ownership and attitudes towards crypto. But the findings of the survey, according to analytics company Chainalysis, are also supported by onchain data.
“The findings of this survey — which highlights the rise in crypto adoption across the Nordic region — align well with our analysis of on-chain transaction data, which reflects real blockchain activity,” says Matthias Bauer-Langgartner, Head of Policy Europe at Chainalysis.
“As detailed in our Crypto Adoption Report 2024, crypto activity in Europe has increased by 44% year-on-year, with the Nordic region as a key growth driver, the region has outperformed similar continental European jurisdictions and even some of the largest markets in the EU. Our data further confirms that Finland has experienced the fastest growth in the region and now leads in received on-chain value, followed by Sweden, Norway and Denmark.
For more information on the Crypto Adoption Survey and Crypto Adoption Week, including reports and recordings of live broadcasts, see:
Crypto Adoption Week 2025: https://www.kaupr.io/crypto-adoption-2025
Crypto Adoption Week 2024: https://www.kaupr.io/crypto-adoption-2024
Diversity in Crypto 2025: https://www.kaupr.io/diversity-in-crypto-2025
For more news and analysis on adadaptation and other trends ahead, subscribe to the Next newsletter: