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Ex-People’s Bank Chief: Digital Yuan Is Not Like Libra, Has No Ambition To Replace Existing Currencies
Summary: Zhou Xiaochuan, who has served as governor of the People’s Bank of China for fifteen years, declared at the Shanghai Financial Forum that China's digital yuan has no ambition to replace existing currencies. He mentioned Libra, who backed by Facebook and renamed Diem recently, said: "However, we are not like Libra, which seems to want to replace ...
Zhou Xiaochuan, who has served as governor of the People’s Bank of China for fifteen years, declared at the Shanghai Financial Forum that China's digital yuan has no ambition to replace existing currencies. He mentioned Libra, who backed by Facebook and renamed Diem recently, said: "However, we are not like Libra, which seems to want to replace other currencies or applications in all aspects."
Zhou emphasized that China rejects any possibility of great-power chauvinism, the digital yuan will play a role in improving the process of foreign exchange transactions or payments.
By Mary Liu
Tags: CBDC,Diem,Digital Yuan,Libra,Peoples Bank Of China,Zhou Xiaochuan
Link: Ex-People’s Bank Chief: Digital Yuan Is Not Like Libra, Has No Ambition To Replace Existing Currencies [Copy]
