In a significant move towards modernizing payment systems, research from the Dutch Central Bank (DNB) has revealed that a majority of Dutch citizens are open to the idea of adopting a digital euro. Published on April 15, 2025, the study found that 67% of respondents expressed a willingness to use this digital currency, even though it is still in the conceptual phase.
The digital euro, envisioned as a secure, electronic form of public money, is currently under consideration by EU member states, the European Parliament, and the European Commission. These entities are negotiating legislation to facilitate its introduction, which has sparked interest and debate across the continent.
According to the DNB, the digital euro would serve as a contemporary alternative to cash, ensuring that all citizens in the euro area have access to a widely accepted and reliable payment method. The survey involved 2,000 participants from the Flycatcher research panel, which collaborates with various Dutch universities. Participants were assigned hypothetical amounts of €800 or €3,000 to simulate spending scenarios typical for lower and middle-income groups.
Frank van der Horst, a researcher at DNB, elaborated on the study's methodology, explaining that participants could allocate their assigned amounts between a bank account, digital euros, and cash. Interestingly, the survey revealed that as uncertainty about using traditional payment methods increased, participants opted to hold more digital euros, treating them similarly to cash.
“Naarmate de onzekerheid over of je wel of niet kon pinnen groeide, kozen mensen er niet alleen voor om meer contant geld, maar ook meer digitale euro's op zak te houden,” said van der Horst, highlighting how people are already considering digital euros as part of their everyday financial toolkit.
Moreover, the study indicated that Dutch consumers generally do not oppose the idea of a holding limit of €3,000 per person for digital euros. This limit aims to prevent excessive accumulation that could jeopardize financial stability. Anneloes van Gent, also from DNB, noted that the offline variant of the digital euro would allow transactions without an internet connection, enhancing its usability in various situations.
“We hebben in ons onderzoek de focus gelegd op de offline digitale euro, die het dus ook doet zonder internetverbinding,” van Gent explained, emphasizing the importance of accessibility for all citizens, including those with disabilities. The research showed that 42% of respondents preferred to store their digital euros on a debit card, while 33% favored an app, and 26% had no preference.
Despite the positive reception, approximately one-third of participants expressed hesitance towards using the digital euro, citing a lack of understanding and trust in the new payment method. Interestingly, privacy concerns did not emerge as a significant barrier; two-thirds of respondents indicated that privacy was not a deciding factor in their willingness to use the digital euro.
In a broader context, the digital euro is seen as a necessary step towards ensuring European independence in payment systems. Currently, the Netherlands relies heavily on non-European companies like Mastercard and Visa for its payment processing. Van Gent emphasized the need for a European solution that connects all markets within the euro area to maintain autonomy in financial transactions.
Moreover, the digital euro is positioned as a supplement rather than a replacement for cash. Sigrid Kaag, a proponent of the digital euro, stated, “De digitale euro zie ik als een aanvulling, niet als vervanging.” This statement reflects the European Central Bank's (ECB) stance that cash will continue to coexist alongside digital currencies.
Concerns about the potential disruption the digital euro could cause to commercial banks also loom large. Critics worry that if consumers shift entirely to digital euros, it could undermine the business models of traditional financial institutions. In response, the ECB is considering implementing a limit on the amount of digital euros individuals can hold, ensuring that it remains a method of payment rather than a storage of wealth.
Additionally, the ECB has faced scrutiny over its technical capabilities, having recently experienced a significant disruption that hindered interbank transactions. This incident has raised questions about the ECB's readiness to manage a new digital currency system effectively. However, the ECB reassures that it is collaborating with other central banks to establish robust regulations and technology for the digital euro, with plans to conduct testing for two years before any final decisions are made.
While the digital euro is still in the early stages of development, the DNB's research indicates a promising outlook for its acceptance among the Dutch public. The willingness of the majority to embrace this digital currency suggests that, once implemented, the digital euro could play a crucial role in the future of payments in the euro area.
As discussions continue at the European level regarding the legislative framework for the digital euro, it remains to be seen how this initiative will evolve and what impact it will have on the existing financial landscape. For now, the prospect of a digital euro is generating significant interest and debate, reflecting a broader trend towards digitalization in the financial sector.
In conclusion, the digital euro represents a potential shift in how consumers engage with money, promising convenience and security while also raising important questions about privacy, competition, and the future of cash. As stakeholders navigate these complexities, the path to a digital euro will undoubtedly be closely watched.
