At physical points of sale, crypto acceptance remained below 1% in both the 2024 and 2026 survey waves, a trend the ECB described as having "no momentum" . This near-zero adoption stands in sharp contrast to both traditional payment methods and the rapid growth of mobile payments.

How crypto compares to traditional and mobile payments

The survey—formally the ECB's "Use of cash by companies in the euro area" study—reveals a wide gulf between crypto and every other payment method .

Online merchants accept these payment methods at the following rates:

• Payment cards: 82%
• Credit transfers: 74%
• Cryptocurrency/stablecoins: 0.2%

At physical points of sale, the picture is equally decisive:

• Cash: 92%
• Physical cards: 88%
• Mobile payments: 68% in 2026, up from 36% in 2024
• Crypto/stablecoins: below 1%

Mobile payments experienced the most dramatic growth, nearly doubling from 2024 to 2026 . This surge in mobile payment acceptance widens the gap with crypto adoption, which showed virtually no movement over the same period .

Why businesses avoid crypto

Notably, the ECB survey questionnaire did not directly ask businesses to cite reasons for rejecting crypto . However, ECB publications and related sources point to several well-established concerns:

• Volatility: Crypto assets like Bitcoin are seen as too volatile for merchants to hold or price in .
• Lack of regulation and legal certainty: Businesses perceive crypto as operating in a regulatory grey zone compared to traditional payment systems .
• Limited consumer demand: With only 0.2% of online merchants accepting crypto, most businesses see insufficient customer demand to justify integration costs .
• Operational and security risks: Issues such as fraud, cyber vulnerabilities, and money laundering risks deter adoption .

One analyst noted a potential measurement issue: the survey may not count merchants who accept crypto through processors that settle transactions in euros, meaning the 0.2% figure could understate real crypto usage . But even allowing for this, the gap with traditional payments is enormous.

How these findings support the digital euro project

The ECB's survey results directly bolster the case for a state-backed digital euro, a central bank digital currency (CBDC) intended to complement cash and existing banking services .

The ECB aims to be ready for a potential first issuance of the digital euro during 2029, assuming the digital euro Regulation is adopted by EU lawmakers in the course of 2026 . Under this timeline:

• A 12-month pilot exercise could start in the second half of 2027 if legislation is in place .
• The digital euro is designed as a public digital payment option that is stable, regulated, and universally accepted—directly addressing the volatility, regulatory, and trust issues that keep merchants from accepting private crypto .
• ECB leadership has warned that rising stablecoin and private digital asset use could weaken monetary policy transmission and reduce bank lending, reinforcing the need for a central bank digital currency as a safe alternative .

The Digital Euro Regulation is expected to face intense negotiations in autumn 2026, with final approval currently envisaged by the end of the year .

A persistent gap between crypto enthusiasm and commercial use

Despite years of headlines about crypto adoption, the ECB survey demonstrates that cryptocurrency remains a marginal payment method in the euro area's real economy. While the ECB's November 2024 Consumer Expectations Survey showed that 9.7% of euro area consumers (or someone in their household) own crypto assets, merchant acceptance has not followed .

This gap between consumer ownership and merchant acceptance underscores the structural challenges facing crypto as a payment method: volatility, regulatory uncertainty, and operational risks that the digital euro—a stable, regulated, universally accepted digital version of the euro—is specifically designed to overcome.

At physical points of sale, crypto acceptance remained below 1% in both the 2024 and 2026 survey waves, a trend the ECB described as having "no momentum" . This near-zero adoption stands in sharp contrast to both traditional payment methods and the rapid growth of mobile payments.

How crypto compares to traditional and mobile payments

The survey—formally the ECB's "Use of cash by companies in the euro area" study—reveals a wide gulf between crypto and every other payment method .

Online merchants accept these payment methods at the following rates:

• Payment cards: 82%
• Credit transfers: 74%
• Cryptocurrency/stablecoins: 0.2%

At physical points of sale, the picture is equally decisive:

• Cash: 92%
• Physical cards: 88%
• Mobile payments: 68% in 2026, up from 36% in 2024
• Crypto/stablecoins: below 1%

Mobile payments experienced the most dramatic growth, nearly doubling from 2024 to 2026 . This surge in mobile payment acceptance widens the gap with crypto adoption, which showed virtually no movement over the same period .

Why businesses avoid crypto

Notably, the ECB survey questionnaire did not directly ask businesses to cite reasons for rejecting crypto . However, ECB publications and related sources point to several well-established concerns:

• Volatility: Crypto assets like Bitcoin are seen as too volatile for merchants to hold or price in .
• Lack of regulation and legal certainty: Businesses perceive crypto as operating in a regulatory grey zone compared to traditional payment systems .
• Limited consumer demand: With only 0.2% of online merchants accepting crypto, most businesses see insufficient customer demand to justify integration costs .
• Operational and security risks: Issues such as fraud, cyber vulnerabilities, and money laundering risks deter adoption .

One analyst noted a potential measurement issue: the survey may not count merchants who accept crypto through processors that settle transactions in euros, meaning the 0.2% figure could understate real crypto usage . But even allowing for this, the gap with traditional payments is enormous.

How these findings support the digital euro project

The ECB's survey results directly bolster the case for a state-backed digital euro, a central bank digital currency (CBDC) intended to complement cash and existing banking services .

The ECB aims to be ready for a potential first issuance of the digital euro during 2029, assuming the digital euro Regulation is adopted by EU lawmakers in the course of 2026 . Under this timeline:

• A 12-month pilot exercise could start in the second half of 2027 if legislation is in place .
• The digital euro is designed as a public digital payment option that is stable, regulated, and universally accepted—directly addressing the volatility, regulatory, and trust issues that keep merchants from accepting private crypto .
• ECB leadership has warned that rising stablecoin and private digital asset use could weaken monetary policy transmission and reduce bank lending, reinforcing the need for a central bank digital currency as a safe alternative .

The Digital Euro Regulation is expected to face intense negotiations in autumn 2026, with final approval currently envisaged by the end of the year .

A persistent gap between crypto enthusiasm and commercial use

Despite years of headlines about crypto adoption, the ECB survey demonstrates that cryptocurrency remains a marginal payment method in the euro area's real economy. While the ECB's November 2024 Consumer Expectations Survey showed that 9.7% of euro area consumers (or someone in their household) own crypto assets, merchant acceptance has not followed .

This gap between consumer ownership and merchant acceptance underscores the structural challenges facing crypto as a payment method: volatility, regulatory uncertainty, and operational risks that the digital euro—a stable, regulated, universally accepted digital version of the euro—is specifically designed to overcome.