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The European Central Bank (ECB) recently published an intriguing study on consumer payment attitudes in the euro area, based on a representation of 50,000 participants. The study revealed how crypto asset ownership is on the rise across the region, with the share of consumers holding crypto more than doubling between 2022 and 2024. Of the 20 countries surveyed, 13 reported shares higher than 10%, with the most significant percentages registered in Slovenia (15%) and Greece (14%). While use in daily transactions remains limited in general, this surge in ownership signals growing public awareness and engagement with decentralized finance, and openness to alternative payment technologies.
In this article, we explore the key findings from the ECB’s study, including who is adopting crypto, how ownership varies across countries, and what this means for crypto payments.
Key findings from the European Central Bank study
The European Central Bank study confirms a clear upward trend in crypto ownership across the euro area. Between 2022 and 2024, the share of consumers holding crypto more than doubled, reflecting growing public engagement with digital assets. Of the 20 euro-area countries surveyed, 13 reported ownership rates above 10%, including Greece, Slovenia, Ireland and Cyprus. This marks a significant jump in adoption, particularly in countries such as Belgium, whose adoption rate tripled between 2022 and 2024. A similar surge was seen in Lithuania, whose adoption rate rose from around 2.5% to 13% in the same two-year period. These promising numbers indicate that while populations move at different speeds, crypto is becoming a more visible component of the European financial landscape.
Regarding crypto payments, France was recorded as having the highest rate of crypto use for payments, with 25% of respondents using digital assets exclusively for payments. In close pursuit were Malta and Spain, who reported crypto use exclusively for payments at 21% and 19% respectively. But crypto is most commonly used for a combination of investment and payment purposes. For instance, 30% of respondents in Lithuania and 29% in both Cyprus and Belgium reported that they use them for both purposes. Notably, the share of respondents using crypto for both investment and payment is growing in several countries, suggesting that utility, rather than speculation, is starting to shape user behavior in parts of the region.
Access, awareness and regulation in the euro area
The European Central Bank study suggests that the increased ownership of digital assets in 2024 could be tied to a greater ease of access and growing public awareness of cryptocurrencies, as well as other digital financial tools, such as instant, cashless payment methods. Across the euro area, fintech apps and exchanges have lowered the barrier to entry, allowing users to buy and hold crypto with just a few clicks. The data points to a rising awareness as more people know what crypto is, how it works, and how it might fit into their financial lives. For some, adoption is still challenging, given the array of exchanges on the market, the complexity of managing digital wallets, and concerns surrounding volatility.
But a huge advancement came at the end of 2024 with the introduction of the EU’s Markets in Crypto Assets (MiCA) regulation, which marked a turning point in crypto policy. As the first comprehensive regulatory framework for crypto in the euro area, MiCA sets clear standards for transparency, consumer protection, and platform accountability. It requires service providers to be licensed, mandates the disclosure of key information, and introduces safeguards against market manipulation and abuse. For consumers, this means increased confidence in the legitimacy and safety of crypto transactions, and MiCA is expected to help foster trust across Member States and create a more secure space for crypto growth.
The future of crypto payments
With ownership rates rising and regulatory clarity improving, the outlook for crypto payments in the euro area is more promising by the day. While current use in day-to-day transactions remains limited, early signs of momentum are emerging. In countries such as France, Lithuania, and beyond, increasing numbers of consumers are already using crypto for both investment and spending, suggesting that practical, everyday use is gradually becoming a more defined part of the picture. As more platforms such as ForumPay integrate seamless crypto payment options, and as stablecoins and euro-backed digital assets gain traction, the infrastructure to support routine crypto payments is steadily maturing.
What’s more, the broader European financial space is already responding. For example, Spain’s largest bank, Santander, is laying the groundwork to launch USD and EUR-denominated stablecoins through its digital platform, OpenBank. The decision responds to the increasing demand for digital payment solutions that offer stability and security. On the payments infrastructure side, ForumPay has rolled out the first fully in-app crypto-to-fiat payment solution in Europe. Now available on iOS and Android, it allows merchants to accept crypto directly within their apps, instantly converting to fiat for goods, services, and even subscriptions. These innovations that enhance real-world crypto utility are what will drive crypto payments into the mainstream for both merchants and consumers.
For more on crypto trends and insights, to start accepting crypto payments with ForumPay, or to speak to a member of the team, visit www.forumpay.com.
