China to expand CBDC trials to most populous province: Report
PBoC Vice Governor Fan Yifei said the expansion of e-CNY trials to the provinces of Guangdong, Jiangsu, Hebei and Sichuan would happen "in due time."
New
The People's Bank of China, or PBoC, is expected to expand the rollout of its central bank digital currency, e-CNY, to four of the country's provinces, including Guangdong.
According to a report by the South China Morning Post on Tuesday, PBoC Vice Governor Fan Yifei said at an event in Suzhou that the bank will roll out e-CNY trials in Guangdong provinces, Jiangsu, Hebei and Sichuan. With a combined population of over 360 million people, the reported move would be a marked expansion of the central bank's CBDC plans, which have been largely limited to individual cities, merchants and certain regions.
>Chinese Digital Currency: Beijing to Expand e-CNY Trials to Entire Provinces Including Guangdong https://t.co/kLnNnqn5iq< /p> — South China Morning Post (@SCMPNews) September 20, 2022
With its first CBDC trials launched in April 2020, the Chinese central bank ultimately aims to replace cash with the digital yuan. As of January 2022, 261 million users are said to have created digital wallets for e-CNY with over $13 billion in transactions. The country also rolled out the digital currency for visiting foreign athletes during the Beijing 2022 Winter Olympics and began allowing...
PBoC Vice Governor Fan Yifei said the expansion of e-CNY trials to the provinces of Guangdong, Jiangsu, Hebei and Sichuan would happen "in due time."
New
The People's Bank of China, or PBoC, is expected to expand the rollout of its central bank digital currency, e-CNY, to four of the country's provinces, including Guangdong.
According to a report by the South China Morning Post on Tuesday, PBoC Vice Governor Fan Yifei said at an event in Suzhou that the bank will roll out e-CNY trials in Guangdong provinces, Jiangsu, Hebei and Sichuan. With a combined population of over 360 million people, the reported move would be a marked expansion of the central bank's CBDC plans, which have been largely limited to individual cities, merchants and certain regions.
>Chinese Digital Currency: Beijing to Expand e-CNY Trials to Entire Provinces Including Guangdong https://t.co/kLnNnqn5iq< /p> — South China Morning Post (@SCMPNews) September 20, 2022
With its first CBDC trials launched in April 2020, the Chinese central bank ultimately aims to replace cash with the digital yuan. As of January 2022, 261 million users are said to have created digital wallets for e-CNY with over $13 billion in transactions. The country also rolled out the digital currency for visiting foreign athletes during the Beijing 2022 Winter Olympics and began allowing...
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