A survey study commissioned by the Deutsche Bundesbank reveals that many Germans are open to the concept of a digital euro. The survey, which included 2,012 German residents, found that half of the respondents could "generally imagine using a digital euro as an additional payment option," even among those previously unaware of it.

The study showed that 41% of participants were familiar with the digital euro, while 59% were not. However, privacy concerns were significant among respondents.

"More than three-quarters of respondents rated the aspect of privacy in connection with the use of the digital euro as very important or important. Of those surveyed, 59% stated that the planned offline version of the digital euro, which is intended to provide a level of privacy protection similar to that of cash, was very important or important," the study report stated.

Despite these privacy concerns, Bundesbank President Joachim Nagel asserted that Eurosystem central banks have no interest in users’ data, adding that the digital euro would protect privacy better than current commercial payment solutions.

Additionally, the study found that 15% of respondents believed the digital euro was meant to replace cash, and 12% thought cash would be abolished once the digital euro was introduced. Only 17% understood that the digital currency would be an additional means of payment issued by the ECB or the Bundesbank. Meanwhile, 16% of respondents mistakenly thought the digital euro was a cryptocurrency.

A press release noted that the Eurosystem, the monetary authority of the euro area, will be able to decide when to introduce the digital euro only after EU legislators establish the necessary legal framework.