A recent report by the Oobit platform revealed that 70% of crypto payments in the European Union are directed towards retail purchases, food, and beverages. The study covered transactions denominated in US dollars, with an average size of $8.36.
Findings from Oobit Report
Oobit's user survey showed that aside from 70% of crypto payments going to retail and food, 26% are spent on tourism, including lodging and aviation. 1.5% of payments are directed towards government services and digital payments, with another 1.5% towards healthcare and entertainment.
Increased Crypto Adoption in EU
Oobit's report confirmed the growth of crypto adoption in the European Union thanks to enhanced trust and acceptance of digital assets at the governmental level. 92% of payments are made using the USDt stablecoin, despite the MiCA regulation.
Role of Micropayments and Stablecoins
Micropayments are becoming a significant part of crypto transactions, often utilizing stablecoins. Technological advancements such as the Lightning Network facilitate quick small payments, while crypto debit cards open up new opportunities for using cryptocurrencies.
The Oobit study highlights the importance of cryptocurrencies in the daily lives of European citizens, particularly in the context of retail and services, thereby strengthening the position of cryptocurrencies in the global market.
