Report: European Crypto Cards Surpass Traditional Banks in the Field of Small Payments

ChainCatcher news, according to a report by Cointelegraph, a report shared by CEX.IO shows that 45% of cryptocurrency card transaction amounts in Europe are below 10 euros (approximately 11.7 dollars), surpassing traditional banks in this traditionally cash-dominated small payment sector.

The report indicates that the number of newly ordered CEX.IO cryptocurrency cards in Europe is expected to grow by 15% by 2025, suggesting that user interest is increasing as more Europeans turn to using digital assets for everyday payments. Online transactions by cryptocurrency card users account for 40%, nearly double the eurozone average of 21% reported by the European Central Bank.

The spending patterns of cryptocurrency cardholders show that they are using the cards for everyday expenses, with groceries accounting for 59% of purchases, and dining and bar expenses making up 19%. Notably, the average transaction amount for cryptocurrency cards is 23.7 euros (27.8 dollars), lower than the 33.6 euros (39 dollars) for bank cards. The data also shows that stablecoins supported 73% of transactions, while major cryptocurrencies like Bitcoin, Ether, Litecoin, and Solana are also used for groceries, dining, and transportation payments.