Nation expands digital yuan network

China’s Central Bank Adds 12 Banks as Digital Yuan Operators

Beijing - China's central bank announced Thursday that it has added 12 banks to its list of authorized institutions for digital yuan operations. A visitor displays a cup of coffee purchased with China's digital yuan, or the e-CNY, at an exhibition of the 6th Digital China Summit in Fuzhou, southeast China's Fujian Province, April 26, 2023. (Photo/Xinhua) The move aims to promote the steady development of the digital currency, improve the inclus…

Nation expands digital yuan network

China's latest move to expand its digital yuan operator network by adding a dozen new banks signals an acceleration in the central bank's push to extend the digital currency's reach and embed it deeper into the country's financial infrastructure, according to official sources and experts.