The use of cryptocurrency as a payment method is becoming increasingly popular, with several high-profile examples emerging recently. In March 2025, Tisséo, a public transport operator in Toulouse, France, became the first transit network in Europe to accept cryptocurrency payments. This move was followed by other businesses and governments exploring the potential of crypto payments.
Early Adoption
The first recorded bitcoin transaction took place on May 22, 2010, when programmer Laszlo Hanyecz purchased two pizzas for 10,000 bitcoins. Since then, the number of businesses accepting bitcoin has grown to around 15,200 worldwide, with 328,370 bitcoin transactions occurring daily. While this is still a small fraction of the two billion daily transactions made by credit cards globally, there are indications that crypto payments could become more mainstream.
Growing Acceptance
Several factors are driving the adoption of crypto payments. In France, luxury department store Printemps began accepting cryptocurrency payments to appeal to international customers. The US government has also shown interest in cryptocurrency, with Colorado’s Department of Revenue accepting tax payments in crypto since September 2022. Bhutan recently partnered with Binance Pay to introduce a national-level cryptocurrency payment system for its tourism industry.
Challenges and Opportunities
Despite the growing interest in crypto payments, several challenges need to be addressed. The volatility of cryptocurrency markets is a significant concern for merchants, as it can impact revenue. Additionally, the lack of standardization in accounting systems and regulatory frameworks can create complexity. However, newer platforms are emerging that offer real-time conversion from crypto to local currency, addressing some of these concerns.
Expert Insights
“Crypto payments don’t auto-sync with traditional accounting systems,” says Thomas Franklin, CEO of crypto FinTech firm Swapped. “Without middleware that handles real-time conversion and ledger entries, it becomes a reconciliation nightmare.” Julia Barashkov, a PhD researcher at Delft University of Technology, notes that public transport is a good fit for crypto payments due to its high-frequency, low-dispute nature.
The Road Ahead
While crypto payments are still in the early stages of adoption, experts believe that they have the potential to become more widespread. “We’re realistically five to seven years away from it being truly invisible to the end user,” Franklin estimates. As infrastructure improves and use cases become more seamless, paying with crypto could become as normal as tapping a card. However, regulatory frameworks and merchant adoption will play a crucial role in determining the pace of this change.
