Crypto remains marginal payment option for euro area businesses, ECB survey shows

Crypto remains a marginal payment option among euro area businesses even as other forms of digital payments gain ground, according to a new European Central Bank (ECB) report.

Just 0.2% of companies selling goods and services online accept crypto assets, the ECB said in its survey on companies’ cash use, published Thursday. Cash remains the most widely accepted payment method, with 92% of companies with physical points of sale accepting it.

The ECB surveyed 8,205 businesses across the 21 euro area countries, covering retail, restaurants and cafes, hotels, and arts, entertainment and recreation. Market research firm Ipsos conducted the telephone interviews from Feb. 23 to April 10.

The findings come as the ECB advances work on a digital euro, a central bank digital currency (CBDC) designed to complement cash and preserve the euro’s role.

Mobile payments are catching up

Mobile payments recorded the biggest shift among payment methods at physical locations, with acceptance jumping to 68% in 2026 from 36% in 2024.

The most commonly accepted mobile options include instant payments and digital wallets, such as Apple Pay and Google Pay.

Acceptance of various payment instruments, 2024 versus 2026. Source: ECB

Cash edged up to 92% from 90%, while physical card acceptance rose to 88% from 87%. Crypto assets and stablecoins showed virtually no momentum at physical points of sale, remaining below 1% acceptance in both 2024 and 2026. Acceptance of bank checks, meanwhile, fell to 27% from 36%.

Merchants cite consumer preference as top payment factor

Consumer preference was the biggest factor companies considered when choosing which payment methods to accept, cited by 26% of respondents, followed by security at 22% and ease of handling at 15%.

Businesses that reject cash most often cited weak customer demand, at 36%, and difficulties depositing or withdrawing it, at 35%, while 29% pointed to security risks.

Most important criteria when choosing to accept a means of payment, euro area, 2026. Source: ECB

The longer-term outlook varies sharply by country, with 51% of cash-accepting small and medium-sized enterprises in Cyprus saying they may stop accepting cash, compared with 23% in Greece and 18% in Bulgaria.

What counts as accepting crypto?

The ECB survey asked companies whether they accept crypto assets or stablecoins, citing Bitcoin (BTC), Ether (ETH) and Tether’s USDt (USDT) as examples.

Some crypto payment services allow merchants to receive settlement in traditional currency even when customers pay with crypto. The survey does not specify whether merchants should count such payments as crypto acceptance.

The ECB was asked whether converted crypto payments could therefore go unreported by merchants and whether regulatory uncertainty could affect companies’ answers. The ECB said it “prefer[s] not to speculate.”

Asked whether euro area merchants are permitted to accept crypto under European Union rules, the ECB said it does not set payment regulation and referred inquiries to the European Commission and national lawmakers.