Europe’s payments landscape features diversity and dynamism beyond most regions. The trends and technologies at work indicate this region is leading the charge in financial innovation. But advances can collide with the red tape of regulation, posing potential challenges to growth.
The European market has tasted the benefits of innovation. Already dubbed the ‘cradle of open banking’, we’ve seen how incentives around better financial products and services spur progress.
Still, regional firms working to advance payments technology need simplified regulatory frameworks and more cooperation among financial market participants to put new technology to work.
Today, payments leaders are interested in how blockchain technology can enable faster, more affordable transactions. Growing conviction signals a promising future for digital assets, cryptocurrencies, and the internet of value—a global, ‘always on’, a programmable, multi-asset financial network where value moves seamlessly on-chain.
Ripple explored blockchain, digital assets, payments, and their intersection in our 2024 New Value survey. Nearly 2,000 leaders from global financial institutions and enterprises participated, including 400 from the UK, France, Germany, and Switzerland.
Financial Institution (FI) survey respondents include senior and executive leaders from:
- retail, commercial, and custodian banks;
- digital banks/fintechs;
- money transmitters and payment providers;
- PSPs;
- and investment banks and brokerages contributed.
On the enterprise side, we heard from finance leaders with roles in:
- payments;
- treasury;
- cash management;
- and trading, settlement, or custody of digital assets
Download the full report for observations and insights about the next wave of digital payments innovation, including existing challenges and growing momentum around blockchain and digital asset technology.