The “Digital Euro Cost Study – From Concept to Implementation” (PwC, commissioned by the European Association of Co-operative Banks (EACB), the European Banking Federation (EBF) and the European Savings and Retail Banking Group (ESBG), June 2025) assesses the financial and operational impact of introducing a digital euro for European retail banks. Based on a survey of 19 banks, it estimates average change costs of €110 million per bank and total implementation costs of up to €18 billion across the euro area, highlighting significant technical, resource, and competitiveness challenges.
