Jakarta, Pintu News – The use of cryptocurrencies as a means of payment is on the rise in Europe, with stablecoins being the top choice.
A recent report from Oobit shows that stablecoins now dominate more than 75% of crypto payment transactions in several EU countries. This trend marks a significant shift in the adoption of digital currencies, from a speculative asset to an everyday means of payment.
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According to a report released by Oobit on June 2, stablecoins have become the top choice in crypto payments in Europe. In the last 30 days, more than three-quarters of purchases made through Oobit in several EU countries were in stablecoins.
The most common purchase categories are retail and travel. In Germany, Spain, and Poland, crypto spending is mostly used to purchase retail goods, especially food and beverages.
On the other hand, in countries like France, Italy, Greece and Ireland, travel-related spending dominates. Overall, retail, food and beverage purchases accounted for 55% of total crypto spending. Poland is a country with high crypto adoption, with one-third of transactions in this category taking place in the country.
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Poland, along with Lithuania and Estonia, stand out as the countries that have adopted stablecoins the most. More than 30% of all retail purchases using stablecoins on Oobit are made in Poland, with most transactions using US Dollar Coin .
Favorable regulatory conditions in Poland, which has complied with the European Union’s Market for Crypto Assets (MiCA) stablecoin framework, have been an important factor in this trend. Lithuania has also seen a significant increase in transactions using Euro-backed EURR, the number of which has doubled in the last month.
The country has over 580 licensed crypto businesses, and recently Robinhood Europe secured a MiCA license from the Lithuanian central bank.
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The report from Oobit confirms that cryptocurrencies are not only used as speculative assets, but are also increasingly integrated into everyday life as functional payment methods.
Users across Europe are starting to integrate digital currencies in their daily activities. This shows a real increase in the utility of cryptocurrencies in everyday life.
This report provides important insights into how cryptocurrencies, particularly stablecoins, are increasingly becoming part of everyday financial transactions in Europe. With favorable regulations and increasing adoption across countries, the future of cryptocurrencies as a means of payment looks to be bright.
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