New research from the European Central Bank suggests that public awareness about plans for a digital euro has increased substantially—but this hasn't been matched by a rise in the number of consumers interested in using it.
About 19,000 households across 11 EU countries took part in the study, which exposed one of the biggest roadblocks to adoption: Many of those polled are perfectly happy with the payment methods they already use.
Participants shown a video explaining the key benefits of this central bank digital currency were "more likely to update their beliefs about this new form of payment" than those who weren't, and to become more willing to consider adoption.
But researchers found that this uptick was "relatively short-lived with the effects of communication largely fading away three months after our information experiment."

European Central Bank Takes Step Toward Blockchain-Based Payments System
The European Central Bank is expanding its efforts to establish a payments system built on blockchain technology, a move that could lead to Europe’s largest monetary policymaker issuing a central bank digital currency, or CBDC. The digital payments infrastructure initiative, announced Thursday by the ECB, will roll out in two phases. In the first stage, the eurozone’s monetary authority will develop and implement a payments platform for settlements in central bank money through an interoperabil...
The campaign also appeared to have other limitations. Those who saw this short 90-second clip were then invited to learn more information about the digital euro for free—but most chose not to do so.
According to the report, this indicates clear communication about this CBDC's practical features will be "essential" for policymakers—but it may need to be repeated, and targeted at consumers who aren't interested in the digital euro.
"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 authors wrote.
About 28% of participants had said they were prepared to embrace the digital euro back in August 2022, rising to 45% in June 2023. But this figure remained "virtually unchanged" up to March 2024, despite knowledge about this CBDC spreading.

Trump Vows to 'Never Allow' U.S. CBDC if Reelected
Former U.S. President Donald Trump has pledged to "never allow" the creation of a U.S. central bank digital currency (CBDC) if reelected. During a campaign speech in New Hampshire, Trump called CBDCs a "dangerous threat to freedom." In a "promise to protect Americans from government tyranny," Trump said that, "as your President, I will never allow the creation of a central bank digital currency." "Such a currency would give our federal government the absolute control over your money," he said. "...
Noting that 97% of households own a bank account of some kind, the report warned: "The propensity to adopt may have begun to hit a 'ceiling' where more than 50% of consumers are not willing to embrace the new payment instrument."
All of this comes as other economies pull back on their plans for a CBDC, amid concern from critics that it could be used to spy on consumers… and erode their privacy.
Donald Trump vowed he would "never allow" a digital dollar to be created prior to his election—sentiments echoed by his now Treasury Secretary Scott Bessent.
Edited by Stacy Elliott.