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Home » Only 5% of companies in Spain believe that the digital euro will be good for their business

Only 5% of companies in Spain believe that the digital euro will be good for their business

Important facts:
  • A survey was conducted among owners of pharmacies, gas stations and restaurants in cities in Spain.

  • A large proportion of Spanish traders do not know what the digital euro is.

A study by Prosegur Cash, a company specializing in cash management, shows that the mood of Spanish traders is not overwhelmingly positive towards the digital euro project being implemented in the European Union.

The results of a survey carried out by Prosegur among around 500 companies in the Iberian country show that only 5.6% are the owners of these establishments considered that the introduction of this digital currency will be beneficial for your companies. This figure is in contrast to the fact that 9% of respondents believe that CBDC It will negatively affect your activity.

Among others, pharmacies, gas stations, lotteries, small (up to 3 employees) and medium-sized catering establishments (between 3 and 7 employees) as well as fashion and grocery stores were taken into account.

“The most optimistic are gas stations and gas stations (10.6%), closely followed by pharmacies (9.8%), while small and medium-sized food establishments (20%) and state lotteries (14.5%) express greater resistance with a significant percentage , who expects negative effects,” comments the Prosegur Cash team.

In general, in the vast majority of companies: the lack of knowledge about the central bank currency project (CBDC). which was developed by the European Central Bank and supported by the Bank of Spain. In this sense, 4 out of 10 managers, or 39.5% of those responsible, do not know how to assess the impact of the introduction of this new payment method.

In a similar vein, almost half of Spanish companies (45.3%) are considering the digital euro will not have any significant impact (whether positive or negative) in their companies.

The Prosegur report clarifies that the study was carried out in several cities in Spain and, with some exceptions, produced similar results in the majority of autonomous communities.

In this context, they explain that Andalusia is the autonomous community where most companies expect that the digital euro will have little impact on their activities (80%). Castilla y León follows with 77.4%; and Galicia with 73.3%. The situation Things are different in Madridwhere only 20% of merchants believe that this new payment method will have no impact on their business.

The results of this research are similar to those of another study conducted last October by the Bank of Spain to measure the knowledge that both the general population and traders have about the CBDC. As CriptoNoticias reported, the numbers showed this 80% of Spaniards don’t know what the digital euro is.

The digital euro is the tokenized version of the currency administered by the European Union. Currently, the asset is in the implementation phase and its issuance is under review. for some time in 2025. It was recently reported that the European CBDC has passed the development phase and has several similarities with Bitcoin (BTC).

Last June, the European Commission presented the digital currency regulatory framework, which has already been approved by the European Central Bank. The proposal specifies this the CBDC will be a mandatory acceptance in shops across the Eurozone, “except for very small merchants who choose not to accept digital payments.”

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