EU crypto payments shift to retail and food

A recent report by Oobit reveals that 70% of cryptocurrency payments in the European Union are used for retail and food purchases, highlighting a growing acceptance of digital assets in everyday transactions.

The average payment size is approximately $8.36, while deposits average around $85, with all transactions denominated in U.S. dollars.

Following retail and food expenditures, 26% of payments are allocated to tourism-related activities, such as lodging and travel.

Additionally, 1.5% each go towards government services, digital payments, healthcare, and entertainment.

The increased adoption of crypto payments is attributed to the EU’s growing acceptance of digital assets, bolstered by government-enacted legislation.

However, 92% of these transactions are conducted using the USDT (CRYPTO:USDT) stablecoin, which faces regulatory challenges under the MiCA regulations that took effect on December 30, 2024.

Chainalysis data supports this trend, showing a 44% year-on-year increase in cryptocurrency adoption in Central, Northern, and Western Europe.

The stablecoin market in this region is expanding at a rate 2.5 times faster than in North America for transactions under $1 million.

The shift towards using cryptocurrencies for everyday purchases reflects technological advancements, such as the Lightning Network and crypto debit cards, which facilitate faster micropayments.

This evolution positions crypto as a viable means of exchange rather than just a speculative asset.

As Arthur Azizov, CEO of B2BINPAY, noted, crypto payments may experience significant changes in 2025, driven by factors like central bank digital currencies and the integration of crypto payment providers with traditional finance companies.