The European Central Bank Expects Digital Euro to Replace €256 Billion in Cash Circulation
The European Central Bank (ECB) predicts in its latest report that the digital euro will replace a portion of circulating cash, fundamentally changing how Europeans use money and impacting bank deposits. Although the digital euro project, aimed at promoting a central bank digital currency (CBDC), has not yet been approved, the ECB has begun studying its impact on the existing asset structure in the Eurozone, including cash and bank deposits. It is estimated that for every 10 euros of digital euro issued, it could replace 5 euros of circulating cash; every 10 euros of digital euro issued could lead to a 3-euro loss in bank deposits. If European citizens widely accept the digital euro, it could replace €256 billion in cash. (News.bitcoin)
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