European companies appear to be in no hurry to abandon traditional currencies in favor of cryptocurrency. According to a recent survey by the European Central Bank, only 0.2% of businesses accept digital assets for online payments, and this figure barely reaches 1% in physical stores.
The study surveyed 8,205 companies across the eurozone. Cash still holds the top spot, accepted by 92% of retail outlets. Cards follow closely at 88%, while mobile payments have increased to 68%. Against this backdrop, cryptocurrency and stablecoins appear to be mere statistical noise.
Regulators have already introduced MiCA—rules intended to provide clarity to the market and encourage businesses to adopt new solutions. However, payment companies are hesitant; they find it easier to work with established tools than to build infrastructure for volatile assets and handle additional compliance checks.
Beyond banks' caution, there are other reasons for these low figures. People still value the tangibility of cash and the predictability of cards. Even with low fees, cryptocurrency remains a speculative tool for most, rather than a means for daily purchases like bread or bill payments.
Businesses, for their part, are missing an opportunity to cut out intermediaries and reduce costs. As long as traditional systems reliably perform their function, there's little incentive to alter the established order—especially when regulatory risks and technical complexities remain significant.
Ultimately, Europe exhibits a classic disconnect between technological potential and actual behavior. Money here continues to flow through old, proven channels, and cryptocurrency has not yet managed to reroute them.
For the average person, this implies that for now, it is safer and simpler to keep savings and make payments using conventional methods, without rushing to adopt new approaches.
