We're witnessing a remarkable shift as cryptocurrencies in emerging markets gain momentum. Countries like El Salvador have already embraced Bitcoin as legal tender, while nations such as Argentina and Zimbabwe increasingly turn to cryptocurrencies to protect against inflation. As we look ahead, central banks representing one-fifth of the world's population are preparing to launch their own digital currencies, marking a new era in global financial accessibility.

In this KvaPay's month in crypto we will discuss: How the European Central Bank is sounding the alarm over the rapid rise of dollar-backed stablecoins and what that means for the euro’s future in the digital economy. With 99% of the $300 billion stablecoin market tied to the US dollar, officials fear losing monetary influence as Europeans increasingly opt for dollar-based digital assets. Meanwhile, euro-stablecoin issuers argue that a strong private euro-stablecoin ecosystem—not a slow-moving digital euro—is the key to countering U.S. dominance and securing the euro’s relevance in global crypto markets.

Blockchain technology now serves over 560 million people worldwide, and crypto gateway solutions are quickly changing how businesses handle payments. Cryptocurrency payments work around the clock and eliminate geographical restrictions that traditional banking systems face. Businesses can reach emerging markets by adding a crypto payment gateway to their websites. The system offers lower transaction costs and improved security against fraud.

As the crypto landscape evolves at fast speed, October proved to be a month of record-breaking developments, regulatory shifts, and institutional momentum. From the European Central Bank taking concrete steps toward a digital euro to the explosive growth of the stablecoin market, the sector continued to push boundaries despite market turbulence.

Contrary to popular crypto payment myths, only 0.34% of all cryptocurrency transactions in 2023 were linked to illicit activities. This means 99.66% of crypto payments are completely legitimate.

September brought a wave of developments reshaping the financial and crypto landscape across Europe and beyond. From new momentum in multicurrency stablecoins and bank-backed blockchain experiments to the delayed timeline for the digital euro and fresh moves by major institutions like Circle, Deutsche Börse, and top European banks, the stage is being set for a more diversified digital economy. At the same time, macroeconomic strains—like France’s soaring deficit—are fueling debates on Bitcoin’s role as a hedge against fiat instability.

Every month we bring you the most essential updates from Europe’s crypto scene. From the ECB’s digital euro plans to corporate bitcoin adoption and retail payment breakthroughs.

Two-factor authentication (2FA) remains one of the most effective ways to protect online accounts. Yet not all 2FA methods offer the same level of protection.

Europe is quickly emerging as a global crypto leader. The continent’s first Bitcoin treasury firm has expanded its holdings beyond $170 million, while an institutional investor has made the first direct purchase of tokenized real estate via MetaWealth. With the MiCA framework driving adoption, Europe has now surpassed the US in crypto uptake. Despite warnings from the ECB, the European Commission downplays stablecoin risks — a stance that may have supported the BaFin-approved launch of EURAU, a MiCA-compliant euro stablecoin by Deutsche Bank and DWS. Meanwhile, crypto cards are beginning to outperform traditional banks in Europe’s growing micro-spending economy.

A lot happened in March and the whole cryptocurrency market experienced a pretty significant drop. As far as price trends are concerned, they are negative across the board. Even so, there is some positive news. Here we go!

Bitcoin mining alone consumes more electricity than some small countries, accounting for approximately 0.5% of global electricity usage. This stark reality highlights the crucial differences between proof of work vs proof of stake consensus mechanisms in blockchain technology.

Layer 2 solutions are protocols built on top of blockchain networks (Layer 1) like bitcoin or ethereum to enhance their scalability, speed, and cost efficiency.