China’s sovereign digital currency pilot in ‘early stage’ as transactions hit US$300 million

//China’s sovereign digital currency pilot in ‘early stage’ as transactions hit US$300 million

China’s sovereign digital currency pilot in ‘early stage’ as transactions hit US$300 million

People’s Bank of China’s (PBOC) governor Yi Gang said China is still in the early stages of developing its central bank digital currency even as the usage of the digital yuan expands rapidly across Chinese cities.Yi said usage of the digital yuan has increased rapidly over recent months and had been used in 4 million transactions valued at 2 billion yuan (US$299 million) in a trial across four Chinese cities, Shenzhen, Suzhou, Xiong’an and Chengdu.The figures showed the digital yuan pilot had…

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By | 2020-11-02T10:15:16+00:00 November 2nd, 2020|Technology|Comments Off on China’s sovereign digital currency pilot in ‘early stage’ as transactions hit US$300 million