Stablecoins Dominate: 75% of Europe’s Crypto Payments Now Fueled by Digital Dollars
Move over, volatile coins—Europe's crypto economy runs on stable fuel now.
The unstoppable rise of dollar-pegged tokens
Three-quarters of all blockchain payments across the continent now flow through stablecoins, according to new data. Traders and businesses are ditching Bitcoin's rollercoaster for Tether's boring predictability—because nothing says 'decentralized revolution' like recreating SWIFT with extra steps.
Regulators scramble as stablecoins eat traditional finance
While central bankers debate CBDCs, real people are voting with their wallets. The numbers don't lie: when given the choice between bank transfers and instant crypto-dollar settlements, Europeans are choosing the latter 75% of the time. Who needs a digital euro when USDT works perfectly fine?
The irony? Europe's financial future may be dollarized after all—just not the way anyone expected.
Top spending categories on Oobit across Europe in the last 30 days | Source: Oobit
Across all countries surveyed, retail, food, and drink purchases made up 55% of total crypto spending. Notably, one-third of these transactions occurred in Poland, signaling a disproportionate rate of crypto adoption in the country.
Poland leads in stablecoin purchases
Poland, Lithuania, and Estonia emerged as key stablecoin adopters. Poland alone accounted for over 30% of all retail purchases made with stablecoins on Oobit, with the majority settled in USDC. This trend aligns with Poland’s regulatory environment, as the country has introduced new laws to comply with the EU’s Markets in Crypto-Assets stablecoin framework.
Regulatory clarity is also driving adoption in the Baltic states. Lithuania, in particular, has seen a sharp increase in Euro-backed EURR transactions, which doubled in the past month. The country is home to over 580 licensed crypto businesses, and Robinhood Europe recently acquired its MiCA license from Lithuania’s central bank.
The study underscores a broader shift: crypto is increasingly being used as a functional payment method, not just a speculative asset. Users across Europe are integrating digital currencies into daily life, highlighting crypto’s growing real-world utility.
