China’s CBDC Platform Surpasses 180 Million Wallets, Facilitates ¥7.3 Trillion in Transactions

China’s CBDC Platform Surpasses 180 Million Wallets, Facilitates ¥7.3 Trillion in Transactions

China’s Central Bank Digital Currency (CBDC) initiative has hit a significant milestone, registering 180 million personal wallets and processing a total transaction volume of ¥7.3 trillion ($1.02 trillion) across its pilot regions. In a column for SINA, Changchun Mu, director-general of the People’s Bank of China’s (PBoC) Digital Currency Institute, outlined the rapid expansion of the digital renminbi, or e-CNY, since its early trials. The PB...

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