China's Central Bank Discusses Digital Currency Launch
The People’s Bank of China (PBoC), the country's central bank, is moving toward the launch of its own digital currency. The PBoC said in a 20th January release that it had held a meeting discussing the possibility in Beijing. Attendees included central bank governor Zhou Xiaochuan and deputy governor Fan Yifei, as well as a group of “relevant research institutions, major financial institutions and advisory bodies of experts”. Notably, the central bank put together a team dedicated to digital currency research in 2014 – the work of which played into the Beijing meeting. In addition, the....
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China’s central bank, the People’s Bank of China (PBOC) announced today that it will make the necessary moves to work toward issuing a digital currency, as soon as possible. The PBC has announced in a release today that it intends to launch its own digital currency, following a meeting held in Beijing. The purpose of the meeting was discussed in today’s release by the central bank of the world’s second largest economy. A ‘special’ research team put together by the PBOC was set up as early as 2014 to conduct research and look into all possible regulatory frameworks for the issuance of a....
China’s central bank digital currency now has 261 million unique users, according to an official of the central bank, the People’s Bank of China (PBOC). Furthermore, transactions worth 87.5 billion yuan ($13.78 billion) have been made using the digital yuan and more than 8 million merchants now accept e-CNY.
China’s Central Bank Digital Currency Growing in Adoption
Zou Lan, head of financial markets at the People’s Bank of China (PBOC), provided an update on the country’s central bank digital currency (CBDC), the digital yuan, at a press....