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Over 140 million people have digital yuan accounts, says PBoC head
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China’s trials with central bank digital currency (CBDC) show no signs of slowing down, as the updated numbers for October 2021 revealed at Hong Kong Fintech Week.
Set out to replace cash in day-to-day transactions, the digital yuan (e-CNY) is gaining traction among individuals and corporates alike, according to PBoC’s Digital Currency Institute head Mu Changchun. Speaking at the conference on Wednesday, Mu said the number of individual digital yuan accounts hit 140 million while corporates created another 10 million accounts.
While the official launch date is still unclear for e-CNY, China has continued to expand the rollout of trials to more than a dozen regions. With a wide range of merchants from utilities, catering services,
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