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What determines potential usage of the digital euro?

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  • Seiler, Volker

Abstract

The arrival of private digital monies such as cryptocurrencies and stablecoins challenges the role of public money as anchor of the monetary system, the monetary sovereignty of central banks and the transmission of monetary policy. Consequently, central banks and monetary authorities around the world intensify their work on central bank digital currencies (CBDC). While research focuses on potential effects of CBDC on financial stability, disintermediation and implications for monetary policy, the literature on design features that might drive usage of CBDCs is nascent. Focusing on the European Central Bank’s (ECB) digital euro project, the estimates from a logistic regression model point to consumer attitudes having by far the largest effect on potential usage. Usage probability is higher for younger people and increases linearly with household income. Moreover, the coefficient estimates for the different design features reveal that ease of use, the possibility to use the digital euro in offline settings and payment via smartphone have a significant impact on usage probability.

Suggested Citation

  • Seiler, Volker, 2026. "What determines potential usage of the digital euro?," Research in International Business and Finance, Elsevier, vol. 86(C).
    • Handle: RePEc:eee:riibaf:v:86:y:2026:i:c:s0275531926000875
    DOI: 10.1016/j.ribaf.2026.103360
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    JEL classification:

    • C25 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Discrete Regression and Qualitative Choice Models; Discrete Regressors; Proportions; Probabilities
    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Systems; Standards; Regimes; Government and the Monetary System
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • G59 - Financial Economics - - Household Finance - - - Other

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