Crypto Payments in the EU: Stablecoin Dominance, Retail Rising

According to the report from #Oobit , most cryptocurrency payment transactions in the EU are focused on daily needs such as retail shopping, food, and beverages, accounting for up to 70% of total transactions. The average payment amount is only about $8.36, indicating that crypto is gradually becoming a convenient payment method in everyday life.

Additionally, 26% of transactions are used for travel, including hotels and airfare, reflecting the growing trend of using crypto in the service industry. However, sectors such as government, healthcare, and entertainment only account for 1.5%, indicating that there are still many barriers to applying crypto in public sectors.

The most notable point is that 92% of transactions are conducted using #USDT , despite this stablecoin facing regulation #MiCA from the EU that will take effect at the end of 2024. This shows the dominance of USDT in the field of crypto payments in Europe, as users prioritize the stability of this stablecoin over other cryptocurrencies.

According to Chainalysis, the acceptance rate of crypto in Central, Northern, and Western Europe has increased by 44% compared to the previous year, mainly due to small transactions under $1 million, especially transactions focused on stablecoins. This reflects the strong development of crypto in micro-payments, bringing cryptocurrency closer to becoming a popular payment method in the digital economy.