Survey: 70% of cryptocurrency payments in the EU are for retail, food, and beverages

ChainCatcher news, according to Cointelegraph, an Oobit survey shows that 70% of cryptocurrency payments in the EU region are used for retail, food, and beverage consumption, 26% for travel, 1.5% for government services and digital payments, and another 1.5% for healthcare and entertainment. The average payment amount for Oobit transactions is $8.36, with an average deposit of about $85.

The report points out that the increased acceptance of digital assets in the EU and the push for crypto legislation have driven payment growth. However, 92% of payments are made through USDT, which faces challenges under the MiCA regulation effective December 30, 2024.

Additionally, Oobit data complements Chainalysis research, showing that the cryptocurrency adoption rate in the Central, Northern, and Western Europe (CNWE) region has increased by 44% year-on-year, with the stablecoin market growing at a rate 2.5 times that of North America for transactions under $1 million.