China Expands Tests of the e-CNY
The People’s Bank of China has reported that the amount of transactions with the digital yuan (e-CNY) by the end of 2022 exceeded $14 billion.
Although at first the token was tested in 15 provinces, now the central bank of the country has decided to significantly expand the geography of its testing.
According to the regulator’s statement, 17 more provinces have joined the testing of the digital currency. In addition, the central bank has promised to expand CBDC tests to almost the entire territory of the country in the near future.
Transactions with the digital yuan can be carried out by scanning a QR code using a mobile application. Operations are carried out with minimal commissions, and the regulator has promised to ensure maximum confidentiality of each sender and recipient of funds.
