Europe's Crypto Adoption Lags Behind as Cash Dominates Payments
The European Central Bank's (ECB) recent survey on cash usage among companies in the euro area has shed light on the low adoption of cryptocurrencies in Europe. The survey, which involved 8,205 companies across all Euro area countries, found that only 0.2% accepted cryptocurrencies for online payments, while 1% did so at physical points of sale.
Cash remains the most widely accepted payment method in Europe, with 92% of companies accepting it at physical locations. This is followed by cards, which are accepted by 88% of businesses, and mobile payments, which rose from 36% in 2024 to 68% in 2026.
The slow adoption of cryptocurrencies in Europe is surprising given the regulatory momentum after the full implementation of the Markets in Crypto Assets (MiCA) framework. Mark Aruliah, Elliptic's Head of EMEA Policy & Regulatory Affairs, noted that with MiCA in place, payment processors 'can confidently develop compliant crypto payment solutions tailored to the European market.'