Electronics retailer Arvutitark, jewellery brand Kuldan and streetwear label Maison Beast may serve very different customers, but they have one thing in common: all three are among a growing number of Estonian merchants bringing stablecoin payments into the checkout experience.
The development reflects a broader shift taking place across one of Europe’s most digitally advanced markets. While cryptocurrencies have long been associated with investing and trading, stablecoins are increasingly being used for something far more practical - paying for goods and services.
That changes the conversation for retailers. The question has shifted from whether consumers own digital assets to whether merchants are prepared to accept them.
Estonia is becoming a natural testing ground
Estonia has built a reputation as one of Europe’s leading digital economies, and the country's crypto ecosystem remains among the continent's most developed.
According to Coinspaid's 2025 European Crypto Adoption Index, Estonia ranks among the top-10 crypto-ready countries in Europe. The country combines strong digital infrastructure, high accessibility to crypto services and an established fintech environment, making it a natural testing ground for new payment technologies.
For merchants this creates a different environment than existed just a few years ago. Crypto is increasingly part of the financial ecosystem customers already use.
Why stablecoins are different
Much of the discussion around crypto payments has historically focused on volatility, but stablecoins changed that equation. Unlike traditional cryptocurrencies, stablecoins are designed to maintain a stable value by being linked to fiat currencies such as the US dollar. In practice, they function more like digital cash than speculative assets.
That distinction matters because consumers behave differently when spending stablecoins than when spending investment assets.
As digital wallets become more common and cross-border commerce continues to grow, stablecoins are helping customers pay using assets they already hold.
For merchants, accepting stablecoins increasingly resembles adding another payment rail rather than adopting an entirely new financial model.
What adoption looks like in practice
Arvutitark, one of Estonia’s leading electronics retailers, provides an early example of what that shift can look like. After integrating crypto payments through CryptoProcessing by Coinspaid, the company reported that 35% of customers who selected crypto as their payment method completed checkout. The retailer also recorded 2-3% month-over-month revenue growth linked to crypto payments.
The significance of those figures is not that crypto suddenly became the dominant payment method. Instead, they suggest that when customers want to pay with digital assets, providing that option can help turn purchase intent into completed transactions.
“With never having a crypto partner previously, we are glad to see such high interest with customers to try out this payment option and it has been a positive surprise to see such fast adoption and simple payment process for the end user.” - Aleksandr Priidemann, CEO, Arvutitark OÜ
The same trend is emerging beyond electronics retail.
Kuldan became the first retail partner in an in-store crypto payment pilot in Estonia, bringing stablecoin payments into the jewellery sector. Maison Beast, an Estonian conceptual streetwear brand, has adopted the technology for a customer base that is deeply connected to digital culture and online communities.
Together, the three businesses illustrate an important point: stablecoin payments are beginning to appear across very different retail categories in Estonia.
From trend to payment infrastructure
For merchants, the appeal is becoming increasingly practical: customers can pay using digital assets while businesses continue to receive settlement in euros. The checkout experience remains familiar, while the number of payment options expands.
“More merchants are asking how to serve customers who already hold digital euros rather than whether those customers exist.”, says Misha Kaplin, Head of Business Development at CryptoProcessing.
That dynamic mirrors how most payment innovations evolve. New payment methods rarely replace existing ones overnight. Instead, they gradually become another option available at checkout alongside cards, bank transfers and mobile wallets.
Stablecoins appear to be following the same path.
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