March 14, 2025
TradFi Prevails
A recent ECB paper titled ‘Consumer Attitudes Towards A Central Bank Digital Currency,’ reveals widespread skepticism. A survey of 19,000 people showed that consumers prefer TradFi (traditional finance) tools like cash and savings accounts over the digital euro.
Source: European Central Bank
The ECB acknowledges that a strong distribution strategy and further research are needed, but the key question remains as to why would consumers switch to the digital euro when existing payment methods work fine.
Global Skepticism
While the ECB argues the digital euro is essential for financial digitization and sovereignty, Europe’s current systems already function well. Global skepticism, including rising resistance to CBDCs in the U.S., adds to the challenge.
Despite some support from financial leaders, convincing consumers to abandon familiar payment methods is difficult. The ECB now faces the challenge of proving the digital euro offers clear advantages. For now, it appears the public remains unconvinced.
