Cyprus Lags Behind in Digital Euro Awareness
The Central Bank of Cyprus (CBC) conducted a survey to gauge public awareness and understanding of the digital euro. The results revealed that only 1% of respondents consider themselves fully informed about the digital euro, while 61% have no knowledge of it at all.
According to Maria Kontou's blog on the CBC website, the European Central Bank (ECB) is developing the digital euro as a digital form of money that would be issued by the ECB and made available for payments with or without an internet connection. The first launch is targeted for 2029.
The survey found that while cash remains the most widely used payment method in Cyprus, 63% of respondents use credit and debit cards in physical shops every week. However, concerns about monitoring transactions and the possible disappearance of cash dominate public concern.