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The newly launched merchant collection solution allows businesses automated settlement of e-CNY into their CNY bank deposit accounts. Original Source
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According to local news outlet JS China, on Feb. 1, an annual meeting regarding the trial of the digital yuan central bank digital currency (e-CNY CBDC) was attended by senior Communist Party officials in the City of Suzhou. As part of the meeting outcomes, party officials have set a tentative
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Previously, the Chinese CBDC has been subjected to a series of retail trials in some of its most technologically advanced regions including but not limited to Shanghai and Suzhou.As the most advanced economy with an active Central Bank Digital Currency (CBDC) in circulation, China’s Digital Yuan (e-CNY) is now gaining
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The Chinese government designed the e-CNY as a digital payment instrument that can serve as a substitute for the fiat yuan in regular day-to-day activities.Xie Ping, the former Director General of Research at the People’s Bank of China (PBoC) has expressed dissatisfaction about the progress made thus far by the
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According to China's state institution Xinhua News Agency, Lan Zou, head of monetary policy at the People's Bank of China (PBoC), announced that the country would be expanding the number of digital yuan (e-CNY) test sites in the country from 11 to 23. They are spread out across 15 out
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