Chinese central bank cryptocurrency

chinese central bank cryptocurrency

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In a separate article, Fan millions of dollars worth of interest rates and reserve rate trials in a number of.

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Why Central Banks Want To Get Into Digital Currencies
China is likely to be the first major economy to issue central bank digital currency (CBDC), the digital version of sovereign currency. (Chinese: ?????; also abbreviated as digital RMB and e-CNY), or Digital Currency Electronic Payment (DCEP, Chinese: ????????; pinyin: Shuzi huobi dianzi zhifu), is a central bank digital currency issued by China's central bank, the People's Bank of China. China's digital yuan is a central bank digital currency (CBDC) issued by the People's Bank of China (PBOC) and valued the same as the standard.
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The vast majority of Chinese people purchase everyday goods with their smartphones, so the digital yuan app went live in fifteen pilot cities in January In addition to piloting the digital yuan, the Hong Kong Monetary Authority is also engaged in the multiple central bank digital currency bridge project, also called mBridge or mCBDC bridge project. No time frame for the expansion of the trial program has been announced thus far. Subscribing grants you this, plus free access to our articles and magazines.