Crypto use for payments in Australia has doubled over the past year, but increasing banking restrictions are creating new friction for users, according to an Independent Reserve survey.
The report found 12% of Australians used crypto to pay for goods and services in 2026, up from 6% the previous year, signalling growing real-world adoption.
Online shopping emerged as the top use case, accounting for 21% of crypto payments, followed by services such as freelancing and gaming at 16%.
“For many Australians, the lack of regulation hits home when a payment to a crypto exchange is delayed or blocked,”
The report authors said.
Despite rising adoption, around 30% of investors reported experiencing delays or rejected transactions when transferring funds to crypto exchanges, up from 19.3% in 2025.
Major banks including Commonwealth Bank and National Australia Bank have tightened controls since 2023, introducing transfer caps, delays and enhanced identity checks.
Younger investors and those making smaller transactions reported more frequent disruptions, highlighting uneven access across user groups.
The findings suggest banks are becoming more selective, focusing on user behaviour and transaction patterns rather than just transaction size.
The report emphasised that clearer licensing and regulation could reduce friction, helping banks gain confidence in crypto transactions and improving reliability for users.
Industry participants say regulatory clarity is key to bridging the long-standing gap between crypto platforms and traditional banking services in Australia.