Nearly 75% of German Consumers Would Reject Facebook's Libra: Survey

Almost three-quarters of German consumers would not use Facebook's planned digital currency, Libra, according to a recent poll.

Only 27 percent considers using LibraOn Oct. 17, Cointelegraph auf Deutsch reported that out of 2000 questioned Germans, aged 16 and over, only 27 percent would ever consider using Facebook's Libra stablecoin as a means of payment at home or abroad.The poll was conducted on behalf of the Wirtschaftswoche business news magazine and Creditplus Bank AG. The results indicate that 73 percent completely reject the idea of Libra as a digital currency.

42 percent because they do not trust Facebook as a company and 31 percent because they only have trust in state-controlled currencies.

The rejection of Libra among the over 35 age group is significantly higher than among younger consumers.

In the age group 55 plus, 85 percent said that it is impossible to do anything with the digital Facebook currency.

Libra finds its biggest support in the age group between 22 and 34 years.

In this age group, almost 42 percent of the consumers would be open to using the stablecoin.

German finance minister rejects Libra coinGermany is obviously not the biggest fan of Facebook's Libra coin.

Cointelegraph reported in September that German Finance Minister Olaf Scholz stated that policymakers cannot accept parallel currencies such as Facebook's proposed Libra stablecoin.

Cointelegraph reported that the Senator was puzzled to see that his colleagues reacted with such hostility to the creation of Facebook's Libra stablecoin.