One in three Cypriots say yes to the digital euro

Economy bankscyprusfinanceTop News One in three Cypriots say yes to the digital euro Euro Coins 2816 29 Relevant News One in three Cypriots say yes to the digital euro 19 August 2026 Rain eases pressure on farmers, but Cyprus water shortage persists 19 August 2026 EU court ruling threatens Cyprus project licensing in Natura 2000 areas 19 August 2026 Theano Thiopoulou 19 August 2026 FacebookXWhatsAppEmailPrintViber A first islandwide survey has found that while Cypriots’ knowledge of the digital euro remains limited, their willingness to use it once it launches is notable, roughly one in three. The Central Bank of Cyprus published the survey’s findings, which aim to capture the public’s level of awareness and intention to use the digital euro, expected to launch in 2029. The findings point to a clear takeaway: the main task ahead of the digital euro’s possible launch is not just building the technical infrastructure, but also properly informing the public. This is especially important for groups that currently rely more heavily on cash and have less access to, or familiarity with, digital tools. With the first issuance of the digital euro currently planned for 2029, Cyprus faces a period in which the public will need to gradually become familiar with a new form of money. The Central Bank’s survey shows the foundation for acceptance already exists, but the main gap remains knowledge: more than six in ten people currently say they do not know what the digital euro is. Information gap The survey’s most notable finding concerns the public’s level of awareness. The majority, 61%, say they have no knowledge at all of the digital euro, while just 1% say they are fully informed about the new digital payment tool. Some awareness of the digital euro is more common among people under 65, those with tertiary education, and employed people. Those who have specifically heard of the digital euro, a related but distinct group in the survey, tend more to be men, older people, those with higher income and education levels, and urban residents, who mainly work in business, are self-employed, or hold managerial positions. The main sources of information for the public on the digital euro are, in order, social media (49%) and television programmes (30%), while related conferences and seminars are the least popular source of information. Social media is preferred as a source by younger age groups, people of middle or lower economic class, rural residents and employed people. Information via television programmes appears more common among older people, those in lower economic classes, people with lower education levels, and the unemployed. Despite this low level of awareness, a significant proportion of the public appears positive about using the digital euro, according to the islandwide survey’s results, reflecting the contradiction at the heart of the findings. Specifically, 35% of participants say they are willing to incorporate the digital euro into their daily lives. These are mainly people under 45, employed people, those with tertiary education and higher income levels. By contrast, 28% consider it somewhat to very unlikely that they would use the digital euro in their daily life. Among those who say they are willing to use it, the most likely uses relate to everyday purchases: 41% would use it for purchases in physical shops, 40% for online purchases, and 33% for person-to-person payments. A further 17% have not yet decided what transactions they would use the digital euro for. Source of concern The biggest hesitation among survey participants over using the digital euro concerns the possibility of their transactions being tracked and fear of the abolition of cash (53%). A further 38% appear concerned about the security of using the digital euro. Another 25% are concerned about how they would manage their expenses through its use. Regarding ease of use, only 30% express strong concerns. On the acceptance side, 9% of respondents say their decision on whether to accept digital euro payments will depend on cost, ease of implementation and demand, while 27% say they are unwilling to accept payments in digital euro. Subscribe to our Newsletter Latest News Rain eases pressure on farmers, but Cyprus water shortage persists EU court ruling threatens Cyprus project licensing in Natura 2000 areas DISY leadership manages internal shock over Averof Neofytou’s remarks UN will not finish Cyprus convergences document before leaders’ meeting Cameroonian footballer, key witness in forgery case, faces deportation Five delivery riders hurt in Paphos brawl over food order payment Fire outside Evrychou home damages three vehicles Follow en.philenews on Google News and be the first to know all the news about Cyprus and the world.