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Half of Germans Open to Using Digital Euro, Despite Limited Awareness

Ruholamin Haqshanas
Last updated: | 2 min read
Half of Germans Open to Using Digital Euro, Despite Limited Awareness

Despite limited awareness and understanding, half of the German respondents have expressed openness to using the digital euro as an additional payment option.

A recent survey conducted by Deutsche Bundesbank revealed that out of the 2,012 participants, 50% stated that they could “definitely” or “probably” imagine utilizing the European Central Bank’s (ECB) pilot central bank digital currency (CBDC), the digital euro.

However, the survey also highlighted a lack of familiarity with the digital euro among the respondents.

Three in five participants admitted to never having heard, read, or seen anything about the digital euro.

Germans Don’t Know What Is a Digital Euro


Among those who had some knowledge, approximately a quarter admitted to not knowing what it was, with 16% mistakenly considering it a cryptocurrency.

Furthermore, nearly 30% believed that the digital euro aimed to replace cash or abolish it altogether if introduced.

Bundesbank President Joachim Nagel emphasized the need for greater information dissemination, stating that the survey underscored the necessity of providing more details about the digital euro to the public.

The survey also shed light on the key concerns and preferences of potential digital euro users.

Privacy emerged as the paramount concern, with over three-quarters of respondents rating it as “very important” or “important.”

Participants also expressed a strong preference for the digital euro to be based on European infrastructure (over 70%) and issued by the government, similar to cash, with the ability to facilitate offline payments (over 60%).

Nagel reassured the public regarding privacy concerns, stating that Eurosystem central banks have no interest in users’ data.

He further asserted that the digital euro would offer enhanced privacy protection compared to existing commercial payment solutions.

The ECB has stated that the digital euro can be used offline, and transaction details would remain known only to the payer and the payee, ensuring a level of privacy.

Digital Euro In Preparation Phase


Currently, the digital euro is in the preparation phase, scheduled for completion in October 2025.

This phase focuses on finalizing rules and identifying potential issuers.

In June last year, the European Commission submitted a draft regulation proposing a legal framework for the digital euro and measures to safeguard the use of cash.

According to Burkhard Balz, Bundesbank’s board member responsible for the digital euro project, the current plans envision the possibility of individuals making their initial digital euro payments no earlier than 2028.

According to the Atlantic Council CBDC tracker, 130 countries, representing 98% of global GDP, are currently exploring a CBDC, while 19 of the G20 countries are in the advanced stage of their CBDC development.

In total, 11 countries have fully launched a CBDC, which include China, The Bahamas, Nigeria, Anguilla, Jamaica, and seven Eastern Caribbean countries.

It is worth noting that the United States is among the few countries that have no confirmed plans to launch a digital currency.

However, the country has been still moving forward on a wholesale (bank-to-bank) CBDC.

Moreover, some lawmakers in the US have staunchly opposed a CBDC due to privacy concerns.