Stablecoins and crypto cards are gaining popularity in Europe, showing significant growth in both online payments and everyday spending.
Rising Popularity of Stablecoins
Recent data from Alchemy indicates that dollar-pegged stablecoins have surpassed traditional payment networks such as Visa and Mastercard in on-chain transaction volume by 7%. The speed and low fees make stablecoins a preferred method of online payments.
Crypto Cards: New Leaders in the Market
With the growing interest in stablecoins, crypto cards are starting to compete with traditional bank cards. According to CEX.IO, 45% of all crypto card transactions in Europe are for amounts under €10, indicating that users are becoming accustomed to using cryptocurrencies for everyday purchases.
The Future of Cashless Transactions in Europe
Trends suggest that crypto cards have the potential to reach parity with traditional bank cards. Increased merchant acceptance, regulatory clarity, and the maturity of stablecoins may ensure that cryptocurrencies capture a market share equal to or greater than traditional cards.
Stablecoins and crypto cards continue to gain traction in Europe, laying the foundation for a new financial landscape where cryptocurrencies could play a central role.
