Europeans show little interest in digital euro, ECB study reveals
13 Marzo 2025 - 9:57AM
Cointelegraph
European consumers have shown minimal interest in adopting a
central bank digital currency (CBDC), raising concerns for the
European Central Bank (ECB) as it prepares for a potential rollout
of the digital euro.
An ECB working paper on “Consumer attitudes towards a central
bank digital currency,” which surveyed about 19,000 respondents
across 11 euro-area countries, highlighted significant
communication challenges that are discouraging European households
from adopting the digital euro.
When asked to hypothetically allocate 10,000 euros (roughly
$10,800) across various assets, Europeans allocated only a small
portion to the digital euro, having little impact on traditional
liquid assets like cash, current accounts or savings
accounts.
Reasons for not adopting a digital euro for retail payments.
Source: European Central Bank
According to the March 12 ECB working paper, Europeans have a
strong preference for existing payment methods and see no real
benefit in a new type of payment system amid myriads of offline and
online alternatives:
“This finding also suggests that convincing some users
of the value added of a CBDC might pose a challenge for
policymakers, and more research will certainly be needed in this
area.”
The study suggested that while a digital euro could be
introduced with minimal disruption to financial stability, its
adoption faces significant hurdles due to consumer
habits.
Additionally, it stressed the importance of targeted
communication to address persistent consumer reluctance toward a
digital euro.
Post-treatment attention checks conducted on European
respondents. Source: ECB
The ECB paper found that European consumers were receptive to
video-based education and training and concluded that educating the
masses with CBDC-related video information could help with the
widespread adoption of the digital euro:
“We find evidence that consumers who are shown a short
video providing concise and clear communication about the key
features of the digital euro are substantially more likely to
update their beliefs about this new form of payment, which, in
turn, increases their immediate likelihood of adopting it compared
to an untreated control group.”
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The study’s release comes as US lawmakers intensify their
opposition to CBDCs.
Speaking at the House Financial Services Committee hearing on
March 11, Representative Tom Emmer said Congress should “prioritize
pro-stablecoin legislation alongside anti-CBDC legislation.”
Emmer speaks during the House Financial Services Committee
Hearing on CBDCs. Source: emmer.house.gov
Emmer said, “CBDC technology is inherently un-American” and
unelected officials should not be allowed to issue it. Emmer also
reintroduced the
CBDC Anti-Surveillance State Act, which would prevent future US
administrations from launching CBDCs.
Meanwhile, Deutsche Börse CEO Stephan Leithner recently called
for the establishment of
a permanent digital euro, among other reforms, to strengthen
the region’s financial autonomy.
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