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Digital Yuan Pilots Hit Over 4M Transactions, Nearly $299M Value, PBoC Head Says
Summary: Yi Gang, governor of the People’s Bank of China, says at the Hong Kong Fintech Week conference on Monday that digital yuan pilots have processed over four million transactions to date, totaling more than 2 billion yuan ($299 million). The launch of the digital yuan pilot project goes smoothly in Shenzhen, Chengdu, Suzhou, Xiong'an, and will extend ...
Yi Gang, governor of the People’s Bank of China, says at the Hong Kong Fintech Week conference on Monday that digital yuan pilots have processed over four million transactions to date, totaling more than 2 billion yuan ($299 million).
The launch of the digital yuan pilot project goes smoothly in Shenzhen, Chengdu, Suzhou, Xiong'an, and will extend to more examples, Yi said.
He also points out that Fintech companies have some key advantages over commercial banks, in terms of developing a customer base and managing risk. Besides, protecting consumers’ private information is a challenge.
China is a leading role in the CBDC race track, while other countries like the U.S and Japan are still in the budding stage.
By Mary Liu
Tags: China,Digital Yuan,Yi Gang
Link: Digital Yuan Pilots Hit Over 4M Transactions, Nearly $299M Value, PBoC Head Says [Copy]
