Cryptocurrencies remained a niche payment method across the euro area. According to the European Central Bank (ECB), digital assets were accepted by just 1% of businesses with physical points of sale and only 0.2% of companies selling goods and services online.
The European Central Bank published the results of a survey on payment instrument usage by businesses across 21 euro area countries. The findings showed that cryptocurrencies were barely used as a payment method, despite the continued growth of other digital payment options.
Among businesses with physical points of sale, only 1% accepted crypto assets or stablecoins. By comparison, 92% accepted cash, 88% accepted bank cards, and 68% accepted mobile payments. Over the past 2 years, the share of businesses supporting mobile payments nearly doubled, rising from 36% to 68%.
The gap was even wider in e-commerce. Bank cards were accepted by 82% of companies, credit transfers by 74%, instant payments by 59%, and digital wallets by 45%. Cryptocurrencies, meanwhile, were available as a payment method at just 0.2% of online merchants, making them the least common payment option in the EU.
The survey also showed that European businesses continued to invest in modern payment technologies. About 25% of companies introduced measures to promote digital payments, while 13% deployed self service checkouts. Even so, the expansion of digital payments was driven primarily by bank cards, mobile services, and instant payments, while cryptocurrencies remained the least popular payment method among European retailers.
The ECB continues to develop the digital euro, arguing that euro denominated stablecoins pose risks to monetary policy and financial stability in the EU.
