Average Payment and Deposit Amounts
This report, priced in U.S. dollars, shows that the average payment amount made using the Oobit application is $8.36, while the average deposit amount is approximately $85. After retail, food, and beverage consumption, 26% of payments are allocated to travel-related activities, such as accommodation, transportation, and aviation. 1.5% is used for government services and digital payments, while another 1.5% goes to miscellaneous expenses like healthcare and entertainment.
USDT Stablecoin Dominance
Additionally, the report indicates that 92% of payment transactions originate from the USDT stablecoin, which is subject to restrictions under the Markets in Crypto-Assets Regulation (MiCA), set to take full effect on December 30, 2024. Oobit’s report supplements data from Chainalysis, which shows that cryptocurrency adoption in the Central, Northern, and Western Europe (CNWE) region has increased by 44% year-on-year. In transactions under $1 million, the growth rate of the stablecoin market in this region is 2.5 times that of North America.
Increasing Adoption of Cryptocurrency Payments in the EU
The report notes that the rising adoption rate of cryptocurrency payments in the EU may be related to governments promoting cryptocurrency legislation and enhancing market credibility.
