By Tom Phillips[1] • • Updated • nfcw.com[2]
China is to launch trials of its central bank digital currency (CBDC) in more cities and regions across the country after rolling out a pilot version of the digital yuan wallet app[3] in January and trialling the CBDC during the Beijing Winter Olympics[4].
Cities and regions applying for permission to begin testing the digital yuan include Henan, Jujian and Heilongjiang provinces and the cities of Guangzhou, Chongqing, Fuzhou and Xiamen, according to a Reuters report[5].
“An official at People’s Bank of China said that the e-CNY was used for 2m yuan (US$317,000) in daily transactions at the Olympics trial,” the report adds.
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