Crypto: Germany says YES to the digital euro!

Digital currency adoption in Europe hits a major milestone as crypto continues to gain traction around the world. A recent survey by the Bundesbank found that despite limited knowledge of the digital euro, half of Germans are open to the idea of ​​using it.

50% of Germans are ready to use the digital euro!

Of the 2,012 survey participants, 50% said they would “definitely” or “probably” consider using the European Central Bank’s ( ECB ) digital euro as an additional payment option. However, interestingly, three out of five people admitted to having never heard of the digital euro as well as CBDCs before.

Among those who had some knowledge of the digital euro, around a quarter admitted to not knowing what it was, and 16% even confused it with a crypto. Additionally, almost 30% believed the digital euro aimed to replace or completely abolish cash if introduced.

Confidentiality, main concern for future CBDC users

The main concerns and preferences of potential users of the digital euro and CBDCs in general have been highlighted. Privacy emerged as the top concern, with more than three-quarters of respondents considering it “very important” or “important.” Nagel reassured the public, saying that Eurosystem central banks have no interest in user data.

Currently, the digital euro is in the preparation phase, which is expected to be completed in October 2025. This phase focuses on finalizing the rules and identifying potential issuers. According to Burkhard Balz, board member of the Bundesbank responsible for the digital euro project, current plans envisage the possibility of individuals making their first payments in digital euro no earlier than 2028.

This opening to the digital euro in Germany reflects a growing trend towards the digitalization of finance and a recognition of the potential value of crypto and central bank digital currencies (CBDCs) in the near future.