Ant-backed MYbank to help China expand digital yuan trial

Ant-backed MYbank to help China expand digital yuan trial

Tencent-backed WeBank and Ant Financial-backed MYbank will reportedly be the first private banks to join China’s digital yuan pilot. China’s central bank is pushing exposure to its ongoing national digital currency pilot by enlisting two major private banks in the project.According to a Feb. 22 Bloomberg report, MYbank and WeBank will help the People's Bank of China extend its user exposure in the ongoing pilots of its central bank digital currency, the digital yuanAs part of the integration, MYbank’s service will soon be introduced to the PBoC’s digital yuan app, people familiar with the....


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