70% EU Crypto Payments Go to Retail and Food, Study Reveals
Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.
Oobit’s recent study reveals that Europeans spend 70% of their cryptocurrency on shopping, food, and beverages across European Union countries. The survey also found that 26% of crypto payments are directed toward tourism-related expenses, including lodging, travel, and aviation.
USDT Dominates 92% of All Transactions
According to an Oobit report published on March 20, only a small fraction of crypto payments in the EU were used for government services and digital transactions, accounting for just 1.5% of all expenses.
Another 1.5% of transactions were linked to various services, including healthcare, entertainment, and other specialized payment categories.
Oobit: 70% of EU crypto payments are retail, food & beverage purchases
Cryptocurrency payment app Oobit released a report stating that 70% of EU cryptocurrency payments were made in retail, food and beverage purchases. According to Cointelegraph, 26% of the total was accounted…
— CoinNess Global (@CoinnessGL) March 19, 2025
Despite the growing use of digital assets, the average transaction size remains modest.
Oobit users typically spend around $8.36 per transaction, while deposits into the platform are larger, averaging $85. This indicates a clear preference for smaller, more frequent purchases.
The report also revealed that stablecoins play a dominant role in crypto payments. USDT emerged as the preferred choice among users, accounting for 92% of all transactions on Oobit’s platform.
Oobit’s findings align with a report from Chainalysis, which examined crypto adoption across Central, Northern, and Western Europe (CNWE). The study found that CNWE is the second-largest cryptocurrency economy worldwide, behind only North America.
Between July 2023 and June 2024, the region received $987.25 billion in on-chain crypto value, accounting for 21.7% of global transaction volume.
Crypto adoption in CNWE continues to expand rapidly, with an average year-over-year growth rate of 44%. The United Kingdom remains the region’s largest crypto economy, receiving $217 billion in digital assets.
Digital Euro and MiCA Regulations Threaten USDT Dominance
While USDT dominates crypto payments in the EU, its position is threatened. The EU’s imminent Markets in Crypto-Assets (MiCA) regulation mandates that stablecoins maintain a 1:1 reserve in liquid assets.
It also requires that at least 30% of reserves be held in deposits with credit institutions, increasing to 60% for major issuers.
Tether’s CEO, Paolo Ardoino, has expressed serious concerns about the MiCA requirements. He believes the 60% banking reserve mandate could introduce financial risks.
MiCA Regulations: Tether CEO Criticizes Bank Deposit Requirement for Stablecoins
Tether’s CEO, Paolo Ardoino(@paoloardoino), has criticized the upcoming Markets in Crypto-Assets (MiCA) regulations, particularly challenging the rule requiring stablecoin issuers to hold reserves… pic.twitter.com/XgXZ08mcam
— EchoeWeb (@Echoeweb) June 5, 2024
Large stablecoin issuers like USDT could be vulnerable if banks holding these reserves face financial instability, as deposits exceeding €100,000 are not insured.
Global crypto exchange Binance has already responded to these regulations by announcing plans to delist USDT and other non-compliant stablecoins for European users by March 31.
Beyond MiCA regulations, the European Central Bank (ECB) is advancing its plans for a digital euro, which could further challenge USDT’s dominance.
Pierre Gramegna, managing director of the European Stability Mechanism (ESM), has warned that U.S. pro-crypto policies could drive foreign and American tech giants to develop mass payment solutions based on dollar-denominated stablecoins.
This could undermine the euro area’s monetary sovereignty and financial stability if successful.
In response, the ECB has been working on a digital euro central bank digital currency (CBDC) since 2020. ECB President Christine Lagarde recently confirmed that the EU plans to launch the digital euro by October 2025.
🚨🇪🇺 ICYMI: ECB President Lagarde said that EU is looking to launch the digital Euro CBDC by October this year. 🇪🇺🚨#CryptoNews #ALTSEASON #CRYPTO #Zelena pic.twitter.com/gnhEGjtWq4
— CryptoWolf (@BitcoinHODLx) March 10, 2025
With MiCA regulations reshaping the stablecoin market and the digital euro on the horizon, the sector of crypto payments in the EU is set for major change.