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Wallet Giant Tangem reports 102 percent year over year revenue growth as it shifts from hardware sales to recurring app based services.
Author: Arushi Garg
Steady attention without excessive speculation.
23rd March, 2026: Tangem, the Swiss hardware wallet maker known for its credit card-style devices, has reported a 100% increase in its annual revenue for 2025. The company generated over $60 million in revenue last year, doubling its previous year’s total by successfully shifting from one-time hardware sales to recurring revenue through its mobile app and premium services. This impressive growth reflects the rising global demand for simple and secure self-custody solutions as more investors seek full control of their crypto assets.
High Signal Summary For A Quick Glance
StrawHatStew
@StrawHatStew
@Tangem Add NFT support with some of that 😭
Our annual revenue doubled to $60M+ But revenue isn't the number that tells the story. Monthly active users in our app rose 50%. That's the number. Here's why.
01:23 PM·Mar 23, 2026
Vijay 𐤊ailash, CFA, CFP®
@realvijayk
@Tangem Much deserved!!! You have a big place in #Kaspa users' hearts!
Our annual revenue doubled to $60M+ But revenue isn't the number that tells the story. Monthly active users in our app rose 50%. That's the number. Here's why.
04:38 AM·Mar 23, 2026
Bala 👽
@BalaiBB
@Tangem even in a bad market numbers are still going up, gg
Our annual revenue doubled to $60M+ But revenue isn't the number that tells the story. Monthly active users in our app rose 50%. That's the number. Here's why.
06:04 AM·Mar 22, 2026
Tangem was founded in 2017 in Zug, Switzerland, with the mission of making crypto self custody as simple as carrying a credit card. The company pioneered NFC enabled card shaped hardware wallets and rapidly expanded globally, shipping millions of units across 160+ countries while raising approximately 23 million dollars in funding from investors including SBI Holdings. By focusing on a seedless, user friendly design and tap to sign experience, Tangem quickly built a strong retail user base and established itself as a key competitor to Ledger and Trezor.
In recent years, the company’s growth was driven primarily by hardware sales, generating roughly 30 million dollars in revenue in 2024. Tangem has been gradually shifting its business model from one time device sales toward recurring revenue through its mobile app, in app services, and “active self custody” features. This strategic evolution, along with expanded DeFi integration and rising demand for convenient secure storage, laid the foundation for the explosive 102 percent year over year revenue jump reported for 2025.
Business model transition from hardware sales to recurring crypto app services
Tangem generated more than $60 million in revenue throughout 2025, exactly doubling its 2024 performance. The standout driver was the rapid growth in recurring income from its mobile app, premium features, staking tools, and DeFi integrations, successfully reducing reliance on one-time hardware sales.
Monthly active users on the Tangem platform rose by 50% year-over-year. This combination of higher engagement and diversified revenue streams has improved profitability and given the company greater long-term stability in the competitive self-custody market.
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