China to allow more banks to handle digital renminbi, sources say

China to allow more banks to handle digital renminbi, sources say

As at last November, digital renminbi transactions had notched a cumulative value of $3.1 trillion since launch. Read more at straitstimes.com.

China Expands Digital Renminbi Banking Support, But Mainstream Adoption Remains Slower Than Expected

China’s digital renminbi CBDC has expanded its banking support to over 20 institutions, but its adoption remains slow due to its low yields and broader market competition. The People’s Bank of China (PBOC) has expanded the digital renminbi’s banking support by 12 more institutions. China’s central bank has now authorized over 20 banks to align their products and services with the e-CNY retail Central Bank Digital Currency (CDBC). Digital Renminb…