The Digital Euro project is about to start, and the European Central Bank (ECB) is analyzing its potential impact on the use of currency in the euro area. A recent report shows that the digital euro could replace physical banknotes for 5 out of every 10 euros, and bank deposits for 3 out of every 10 euros.
The ECB estimates that, depending on the rate of adoption, it could replace up to 256 billion euro banknotes. However, given that there are more than 1.56 trillion euros currently in circulation, its use is likely to remain small. As Europe pushes for a digital euro against a dollar stablecoin, ECB Council member Piero Cipollone has stressed its necessity.
ECB expects digital euro to replace up to 256 billion euro notes
2025-04-20 07:36:40
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