China's central bank is to extend the trial of its digital currency, e-CNY, to four major provinces including Guangdong, the most populous. By JamieCrawleyCD
The People's Bank of China will also add Jiangsu, Hebei and Sichuan to the trial, Deputy Governor Fan Yifei said at a financial forum on Monday, according to the SCMP.Trials of the country's central bank digital currency have been taking place over the past two years. They have generally been city-wide and taken the form ofAs of October last year,, and transactions worth 62 billion yuan carried out.
The central banks and governments of almost every major economy around the world have at least demonstrated intent to explore the development of a CBDC, partly in response to the rise in the use of cryptocurrencies.
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