The Bank for International Settlements published a working paper using a discrete choice experiment to measure Austrian consumers’ intended adoption of a digital euro and how design features affect take-up. The study finds that protection against financial loss and monetary incentives are the strongest drivers of adoption and that, under a simulated “realistic” design, around 45% of individuals would intend to adopt. The experiment surveyed 1,421 Austrian residents aged 16 and above and asked participants to choose between two digital euro variants or the status quo across 10 choice tasks, varying five attributes: privacy model, offline functionality, loss protection, monthly cost savings and form factor (card versus app). Simulations indicate that EUR 10 per month in savings increases adoption probability by 8 percentage points, while reducing loss exposure from full loss to a capped loss of EUR 250 raises adoption by 12 percentage points, and full loss protection raises it by 23 percentage points. On average, respondents showed no strong preference between the two privacy options tested, offline functionality had a modest impact (around 4 percentage points), and a physical card was preferred to a smartphone app (around 6 percentage points). Adoption intent varied materially by group, with higher likelihood among younger and higher-educated respondents and those with greater trust in the central bank, and was higher for consumers reporting barriers to paying with their preferred methods; privacy-sensitive consumers, around one-third of the sample, were less responsive to incentives under limited-privacy settings.
Bank for International Settlements 2025-11-01
Bank for International Settlements research finds security and incentives drive intended digital euro adoption in Austria with around 45% uptake under realistic design
The Bank for International Settlements' paper on Austrian consumers' potential digital euro adoption highlights financial loss protection and monetary incentives as key drivers. Involving 1,421 participants, the study found a realistic design could achieve a 45% adoption rate, with EUR 10 monthly savings and enhanced loss protection boosting likelihood. Younger, higher-educated individuals and those trusting the central bank were more inclined to adopt, while privacy-sensitive consumers were less responsive to incentives.