China’s Digital Yuan Transactions Near $1 Trillion

China’s Digital Yuan Transactions Near $1 Trillion

China’s digital yuan initiative is making significant strides, accumulating a transaction volume nearing $1 trillion, according to Lu Lei, Deputy Governor of the People’s Bank of China (PBOC). The digital currency, known as the e-CNY, has undergone over a decade of research and four years of extensive pilot programs across 17 regions. As of June, transactions through the digital yuan reached 7 trillion yuan. Key Milestones in China’s Digital ...

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