April 19, 2024
65% of Spaniards Uninterested in Digital Euro
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65% of Spaniards Uninterested in Digital Euro

Bank of Spain’s Digital Euro Survey Shows Limited Public Interest As the Bank of Spain explores the potential adoption of a digital euro, a recent survey titled “Study on the habits in use of cash” conducted by Ipsos has revealed that the country’s population does not share the same enthusiasm for the European Central Bank’s digital currency project. The study, which included 1,600 respondents from the general public and small businesses, showed that only 20% of the general public and 23% of small business representatives were aware of the concept of a ‘digital euro’ in 2022.

In 2023, when asked about their willingness to use the digital euro alongside their regular payment methods, only 20% confirmed their interest, while a significant 65% expressed disinterest. These figures represent a notable shift from the previous year when the majority favored the central bank digital currency (CBDC).

The study also highlighted that the younger age group (18-24) displayed the most enthusiasm for the digital euro, with 36% indicating their willingness to use it. However, this enthusiasm gradually waned with age, dropping to 7% for those over 65.

Despite this mixed response from the public, the Bank of Spain has emphasized the importance of the digital euro in the growing digitalization of the economy. Spain has also demonstrated its commitment to the European Union’s digital economy initiatives by implementing the Markets in Crypto-Assets (MiCA) framework ahead of schedule.

Image by freepic.diller on Freepik

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