New research from the European Central Bank (ECB) reveals that while public awareness of the digital euro has significantly increased, consumer interest in adopting it has remained stagnant.
The study, which surveyed 19,000 households across 11 EU countries, identified a major hurdle to adoption: Many respondents are satisfied with their current payment methods and see little need for a central bank digital currency (CBDC).
Participants who watched an educational video highlighting the digital euro’s benefits showed a temporary rise in interest. However, researchers found that this effect faded within three months. Moreover, despite being offered additional information at no cost, most participants declined to explore further.
The findings suggest that policymakers must communicate the digital euro’s practical advantages more effectively—and repeatedly—to engage consumers who remain disinterested.
“A substantial portion of consumers report that they would likely not adopt the digital euro, primarily due to a strong preference for an existing payment method,” the report noted.
Interest in the digital euro rose from 28% in August 2022 to 45% in June 2023 but has since plateaued. With 97% of households already holding a bank account, researchers warn that adoption may have hit a ceiling, with over half of consumers unwilling to switch to the new payment system.
The study comes as global interest in CBDCs faces resistance. Critics argue that digital currencies could erode privacy and enable government surveillance. In the U.S., former President Donald Trump pledged to block the creation of a digital dollar—a stance reaffirmed by his Treasury Secretary, Scott Bessent.
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