in Bank Of China, CBDC, China, Peoples Bank of China

Bank of China: Digital yuan transactions volume crossed $14B mark

by Repost Admin October 13, 2022, 8:43 am 1.4k Views

The largest CBDC pilot in the world is going to expand on citizen payments and cross-border operations with Hong Kong.

China’s central bank digital currency (CBDC) project has reached the mark of close to $14 billion, or 100.04 billion yuan, of made transactions during its pilot phase. It makes digital yuan, the e-CNY, the most widely adopted CBDC in the world.

As the Bank of China reported in the post on its official WeChat page on Oct. 10, by the end of the summer, the number of transactions made in 15 provinces within the CBDC pilot framework had reached 360 million. More than 5.6 million merchant