ECB Survey: 0.2% Crypto Adoption vs. 92% Cash Dominance in Euro Area

Woofun AI reports that crypto assets remain a negligible payment option for euro area businesses, with just 0.2% of online merchants accepting them, even as the ECB advances its digital euro project.

The data stems from a comprehensive survey of 8,205 businesses across 21 euro area countries, conducted by Ipsos via telephone interviews between Feb. 23 and April 10. The sample covered retail, restaurants and cafes, hotels, and arts, entertainment and recreation sectors. Cash remains the undisputed king at physical points of sale, accepted by 92% of companies.

Mobile payments recorded the most significant structural shift, with acceptance surging to 68% in 2026 from 36% in 2024. Instant payments and digital wallets, such as Apple Pay and Google Pay, drove this growth.

Meanwhile, physical card acceptance rose to 88% from 87%, and cash edged up to 92% from 90%. In contrast, acceptance of bank checks fell sharply to 27% from 36%.

Woofun AI data shows that crypto assets and stablecoins showed virtually no momentum, remaining below 1% acceptance at physical locations in both 2024 and 2026. Consumer preference was the primary driver for payment method selection, cited by 26% of respondents, followed by security at 22% and ease of handling at 15%. Among those rejecting cash, 36% cited weak customer demand, 35% pointed to difficulties depositing or withdrawing it, and 29% raised security risks.

Regional outlooks diverge significantly, with 51% of cash-accepting SMEs in Cyprus considering stopping cash acceptance, compared to 23% in Greece and 18% in Bulgaria. The survey specifically asked about Bitcoin (BTC), Ether (ETH), and Tether's USDt (USDT), noting that some services settle in traditional currency. The ECB replied it 'prefer[s] not to speculate.'

When asked if euro area merchants are permitted to accept crypto under European Union rules, the ECB stated it does not set payment regulation, referring inquiries to the European Commission and national lawmakers. This regulatory ambiguity underscores the disconnect between institutional digital currency initiatives and merchant-level crypto adoption.