The EU is literally working on an alternative as we speak: https://www.ecb.europa.eu/euro/digital_euro/html/index.en.ht...

I think the cryptocurrency-based implementation is stupid and a product of its time, but the EU is investing a lot of money into a system to push Visa and Mastercard out.

Many countries have their own payment systems already, often widely successful. Integration between these systems has been annoying but things have started to centralize on two or three systems across Europe now.