In 2010, a programmer famously purchased two pizzas for 10,000 BTC — the first real-world crypto payment¹. What began as an experiment in peer-to-peer money has evolved into a global conversation around programmable value transfer and the future of money.
While speculation drove early adoption, crypto paymentsCrypto Payments crypto-payments Payments made using cryptocurrencies such as Bitcoin, Ethereum, or stablecoins, often processed through crypto wallets or exchanges. are now regaining center stage. Stablecoins, Layer 2 networks, and regulated infrastructure are making real-time, borderless, and low-cost transactionsTransactions transactions Interactions where value is exchanged for goods or services. possible.
Crypto is no longer just for hodlers — it’s fueling merchantMerchant merchant An individual or business that accepts payments in exchange for goods or services. checkouts, cross-border settlements, and Web3 commerce. This blog unpacks the key milestones, technologies, use cases, and what lies ahead in the next wave of payment innovation.
🕒 Crypto Payments Timeline (2009–2024)
| Year | Milestone/Event | Description |
|---|---|---|
| 2009 | BitcoinBitcoin bitcoin A decentralized digital currency, often accepted as an alternative payment method. Genesis Block | The first-ever Bitcoin block is mined — the beginning of decentralized money. |
| 2010 | First Crypto Payment | 10,000 BTC used to buy two pizzas — first recorded real-world transaction.¹ |
| 2011 | Litecoin and Altcoins Emerge | Introduction of faster blockchains like Litecoin to improve scalability. |
| 2013 | FinCEN Issues Crypto Guidance | First major regulatory step in the U.S. recognizing crypto businesses. |
| 2014 | Overstock Accepts Bitcoin | First major retailerRetailer retailer A merchant that sells goods or services directly to consumers. to accept BTC as payment. |
| 2017 | Bitcoin Scaling Debate | High fees & congestion lead to SegWit and birth of Lightning Network. |
| 2018 | Stablecoins Rise (USDC, DAI, etc.) | USD-backed stablecoins introduced to solve volatility issues. |
| 2020 | PayPal Enables Crypto Purchases | PayPal allows users to buy, hold, and checkout with crypto. |
| 2021 | El Salvador Legalizes Bitcoin | BTC becomes legal tender — first national-level adoption. |
| 2022 | Solana Pay Launches | Gasless, real-time crypto payments pilot launched. |
| 2023 | VisaVisa visa A leading global payment technology company connecting consumers, businesses, and banks./Stripe Integrate StablecoinStablecoin stablecoin A type of cryptocurrency pegged to a stable asset (like USD), used to avoid volatility in crypto transactions. Settlements | Institutional payment networks begin settling via stablecoins. |
| 2024 | 35%+ of All Crypto Tx Volume is Stablecoins | Stablecoins now dominate as the main form of crypto payments.² |
- Popper, N. (2014). Bitcoin Pizza Day: Celebrating the First Real-World Transaction. The New York Times.
Vibhu Arya is a fintechFintech fintech
Short for financial technology, refers to tech-enabled innovation in financial services. and payments expert with 15+ years of experience simplifying how money moves across digital and retail ecosystems. He’s led strategy and partnerships at Citibank, Adyen, and IKEA, and helped scale fintech startups (Snapdeal, iPaylinks) to $1B+ valuations. Vibhu’s expertise spans cards, crypto, cross-border, and real-time payments. He is the founder of PaymentsPedia.com, where he writes about the future of payments.
📧 vibhu@paymentspedia.com | LinkedIn