Only 0.2% of Euro Area Merchants Accept Crypto Payments — Here's Why That Number Matters

WHY IT MATTERS

Think of it this way: if crypto were a new type of credit card, this survey is saying that out of every 1,000 online stores in Europe, only about 2 actually let you pay with it. The European Central Bank — essentially Europe's version of the Federal Reserve — conducted a survey and found that almost no businesses in the euro area accept crypto as payment. This matters because one of crypto's original promises was to become 'digital money' that people use every day. This data shows that, at least in Europe, crypto is still mostly treated like an investment (similar to stocks or gold) rather than something you'd use to buy groceries or pay for a subscription. It also gives European regulators a reason to push their own 'digital euro' — a government-backed digital currency — as a more practical solution for digital payments.