ECB predicts digital euro could replace 256 billion euros in paper notes

Report: The European Central Bank (ECB) latest report predicts that digital euros will replace part of the circulating paper currency, fundamentally changing Europeans' monetary usage, and bank deposits will also be affected. Although the digital euro project aimed at promoting 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 paper currency and bank deposits. Estimates suggest that for every 10 euros of digital euros issued, 5 euros of circulating paper currency can be replaced; for every 10 euros of digital euros issued, 3 euros of bank deposits will be lost. If European citizens have a high acceptance of digital euros, it could replace 256 billion euros in paper currency. (News.bitcoin)