Exclusive-From lottery draws to fiscal spending, China broadens digital yuan footprint

e-CNY: China broadens digital yuan footprint

People's Bank of China is giving banks policy incentives and ‌directives to expand the use of digital yuan, also known as e-CNY

China Expands Digital Yuan Push

China’s central bank is actively promoting the digital yuan (e-CNY) both domestically and internationally, aiming to establish it as a competing alternative to the US dollar in global finance. The People’s Bank of China (PBOC) is implementing measures that encourage banks to increase the use of digital yuan in various sectors, including lottery draws, green […] The post China Expands Digital Yuan Push appeared first on Modern Diplomacy.

From lottery draws to fiscal spending, China broadens digital yuan footprint

Some say Beijing's move is aimed at reducing dependence on a Western-dominated global payments system. Read more at straitstimes.com.

Exclusive-From lottery draws to fiscal spending, China broadens digital yuan footprint

May 30 (Reuters) – China’s central bank is making a broad push to increase the use of digital yuan at home and abroad, several industry sources said, setting Beijing on a different – and potentially competing – path from the United States in shaping the future of money. In a series of measures, many revealed here for the first time, the People’s Bank of China (PBOC) is giving banks policy incentives and behind-the-scenes directives to expand the…

China Pushes Digital Yuan Deeper Into Banking System

Summary: China is turning the e-CNY into a core banking product. More banks are being added as adoption incentives increase. […] The post China Pushes Digital Yuan Deeper Into Banking System appeared first on CoinsPress.