The People’s Bank of China expanded its digital yuan pilot program to 11 more cities, including in Hangzhou
The People’s Bank of China said it had expanded its digital yuan test program to 11 more cities, including Hangzhou, which will host the Asian Games in September.
China digital yuan is now in 23 cities
The 11 cities testing China’s central bank digital currency (CBDC) are Tianjin, Chongqing, Guangzhou, Fuzhou, Xiamen, and six cities and Zhejiang province.
Residents of at least five of the 11 pilot cities were able to access the digital yuan wallet as early as Friday, April 1.
With the latest announcement, people in 23 cities can access the digital yuan.
China’s CBDC – the digital yuan, or e-CNY – begins testing in Shenzhen in October 2020 and will top US$11.24 billion in historical transactions by the end of 2021 . The digital yuan recently ended its international debut at the Winter Olympics.
The digital yuan will be on display in the latest batch at two upcoming major sporting events, Chengdu Summer University and the Hangzhou Asian Games.
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