Crypto super app and peer-to-peer platform NoOnes has announced plans to expand its gift card trading infrastructure, outlining efforts to grow what the company says could become one of the largest marketplaces for trading retail vouchers for crypto assets.
The platform aims to connect more than 10,000 global and regional brands within its peer-to-peer marketplace, where users can exchange gift cards for digital assets. According to the company, the system is designed to allow users to convert vouchers into crypto through a peer-to-peer escrow mechanism.
The expansion comes as the global gift card market continues to grow rapidly. According to industry estimates, annual gift card sales reached roughly $1.2 trillion in 2025, with some forecasts projecting the market could expand to $4.2 trillion by 2035.
The growth of alternative financial rails in regions where access to traditional banking, payment systems, or centralized exchanges remains limited has created opportunities for peer-to-peer crypto platforms such as NoOnes. In many emerging markets, users rely on alternative payment methods to access digital assets.
Gift cards continue gaining traction in peer-to-peer crypto markets
In peer-to-peer crypto markets, gift cards have increasingly been used as an alternative route into digital assets, particularly in regions where currency volatility or capital controls limit access to foreign exchange markets. In these cases, retail vouchers can function as intermediate instruments that are exchanged for Bitcoin, stablecoins, or other cryptocurrencies.
Gift cards already represent a notable share of activity on NoOnes. According to the company, gift cards, coupons, and vouchers currently account for more than 10% of trading activity on the platform. The marketplace supports over 300 brands and 783 gift card types, with denominations ranging from about $2 to more than $1,000. Transactions are facilitated through an escrow system designed to protect both buyers and sellers.
Peer-to-peer crypto platforms have long relied on alternative payment methods such as bank transfers, mobile money, and retail vouchers. Platforms such as Paxful and LocalBitcoins previously supported similar trading corridors before regulatory changes and shifting market conditions reshaped parts of the sector.
In parts of Africa, Latin America, and Southeast Asia, gift cards have been used as a workaround for banking restrictions or payment limitations. In some cases, trading corridors built around gift cards and crypto assets developed into multi-million-dollar weekly markets during the early growth phase of peer-to-peer crypto platforms.
More recently, gift cards have also gained traction in developed markets. Some companies now sell crypto-related vouchers in retail stores, while online platforms allow users to purchase gift cards for major brands using digital assets. These developments suggest that vouchers could increasingly serve as a bridge between traditional retail systems and digital asset networks.
The company also said it plans to introduce additional tools to support marketplace activity. These include a dynamic pricing system designed to reduce price fragmentation and aggregate supply and demand data across regions, as well as a wholesale trading tool aimed at professional traders and liquidity providers who buy and sell gift cards in large volumes.
According to NoOnes, the planned expansion of its gift card marketplace is expected to roll out gradually beginning in 2026.