$9.5 billion spent using Chinese central bank's digital currency - official

3 weeks ago 20

China's authoritative app for integer yuan is seen connected a mobile telephone placed successful beforehand of an representation of the Chinese flag, successful this illustration. REUTERS/Florence Lo/Illustration

HONG KONG, Nov 3 (Reuters) - Some 140 cardinal radical had opened "wallets" for China's caller integer yuan arsenic of October and utilized it for transactions totalling astir 62 cardinal yuan ($9.7 billion), a elder Chinese cardinal slope authoritative said connected Wednesday.

However, Mu Changchun, the director-general of the integer currency institute of the People's Bank of China, told Hong Kong's "Fintech Week" league determination was nary authoritative motorboat day for the integer currency, besides known arsenic the e-CNY.

Central banks astir the satellite are looking astatine processing cardinal slope integer currencies (CBDCs) to modernise their fiscal systems, ward disconnected contention from cryptocurrencies similar bitcoin and velocity up home and planetary payments.

China's efforts are among the astir precocious globally, and the state has been moving assorted trials and aviator schemes of antithetic outgo scenarios since past year. work much

Mu said truthful acold 1.55 cardinal merchants could judge payments utilizing eCNY wallets, including utilities, catering services, transportation, retail and authorities services.

($1 = 6.3962 Chinese yuan renminbi)

Reporting by Alun John Editing by Mark Potter

Our Standards: The Thomson Reuters Trust Principles.

Read Entire Article