Euro Area Businesses Rejection of Crypto Payments Remains High

Crypto payments have stalled in the euro area as only 0.2% of online euro businesses accept them, according to a recent survey by the European Central Bank.

The ECB surveyed over 8,200 businesses across 21 countries and found that mobile payment acceptance climbed to 68%, while cash remained dominant with 92% acceptance.

The results contrasted with broader gains in digital payments, suggesting that crypto still operates mainly outside everyday merchant payments. The survey did not identify regulation as a reason for low adoption among businesses.

The European Union already regulates crypto assets through the Markets in Crypto-Assets Regulation, and the ECB is moving forward with its planned digital euro framework, which would complement cash and support online and offline payments.