Digital Euro in Germany?

Financial Times

The adoption of digital currency in Europe takes an important move as cryptocurrency continues to gain attraction across the globe.

A recent survey that is being conducted by Bundesbank unveiled that inspite of limited knowledge of the digital euro, half of the Germans are open to the idea of using it.

Fifty percent of the 2,012 respondents said they would "certainly" or "probably" think about using the digital euro issued by the European Central Bank (ECB) as an additional payment option.

However, it is also interesting to note that three out of five acknowledged to having never heard of CBDCs or digital euro before.

Of those who knew something about the digital euro, over 25% said they had no idea what it was, and 16% even thought it was a cryptocurrency. Furthermore, almost thirty percent said that the digital euro, if it were implemented, would replace or do away with cash entirely.

The digital euro is currently in the preparation stage and is expected to completed by October 2025. This stage focuses on concluding the rules and pointing out potential issuers.

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