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- 70% of crypto payments in the EU go toward retail, food, and beverages.
- The crypto ecosystem is growing fast, with Europe leading in stablecoin transactions.
- Romania, Poland, and Hungary are at the forefront of crypto payment adoption.
Crypto payments are becoming more common in the European Union. More businesses and consumers are using digital assets for everyday transactions. A recent report by Oobit, a crypto payments platform, shows that retail, food, and beverages make up 70% of crypto payments.
Positive regulations are driving adoption of digital currencies forward. The majority of EU countries have implemented clear regulations that make it more convenient to accept crypto. Stablecoins like USDT play a big role, with 92% of payments via Orbit being in USDT.
USDT Fuels Everyday Crypto Spending
Stablecoins have a key function in its payments. The best-selling asset is USDT and covers close to all payments in the Oobit app. Cashback on USDT payments also favors users. The report cites that average payment value in the app is $8.36.
This means that users are spending cryptocurrency on small everyday purchases rather than large purchases. But deposit sizes are much higher at $85 on average. This suggests that users have more value in the app to spend in the future.
Most of cryptocurrency spending is concentrated in some categories. 70% of all spending is in retail and food and beverage purchases. Travel, aviation, and accommodations stand at second place at 26%, while government services and digital payment stand at 1.5%.
Eastern Europe Drives Crypto Growth
Some EU countries have a quicker adoption of crypto than others. Romania, Hungary, and Poland lead the way based on different regulatory approaches. Romania introduced a tax exemption on crypto gains recently, and that may have encouraged users to spend more digital currency. Romania’s average spend is $7.1, with 71% retail and food-related, according to Oobit statistics.
Poland’s political scene is heating up with its debates. A presidential candidate has proposed creating a national Bitcoin reserve. The outcome remains uncertain, but the country already has a strong cryptocurrency regulatory framework. The average transaction is $8.3, with retail spending serving as the main use case.
Hungary is regulating digital assets as well. The government has implemented legislation that allows banks to offer crypto services. Hungary’s National Bank is regulating the crypto market. The value of average payment in Hungary is $7.9, and 63% of payment is retail-oriented.
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