The operating institutions for the digital yuan have expanded to 30, with 8 additional banks joining to connect to the PBOC-side system services
On August 17, the People’s Bank of China officially announced the addition of 8 banks serving as digital yuan business operating institutions. The relevant institutions have been formally approved to connect to the PBOC-side digital yuan system.
This move is intended to implement the deployment in the “15th Five-Year Plan” outline to “steadily develop the digital yuan,” further enhancing the inclusiveness of digital yuan services, and meeting the public’s demand for secure, convenient, and efficient payment services.
The 8 newly added institutions include three national joint-stock banks—Ping An Bank, Hengfeng Bank, and Bohai Bank—as well as five city commercial banks with regional characteristics—Shanghai Bank, Hangzhou Bank, Huishang Bank, Changsha Bank, and Guangxi Beibu Gulf Bank.
After ensuring that all preparations are in place and passing the acceptance and evaluation by relevant departments, these newly added bank institutions can officially launch and provide end-to-end services for opening, redeeming, and circulating digital yuan to the public.
As a result, the total number of digital yuan operating institutions has increased to 30. This is the second expansion of the digital yuan operating system within the year, following the addition of 12 institutions in April this year. The coverage of services and the range of market participants continue to broaden.
The People’s Bank of China said that going forward, it will proceed with the expansion of operating institutions in an orderly manner according to market-based and rule-of-law principles, continuously stimulating the initiative and creativity of market entities, and gradually building an open, inclusive, and fair-competitive development ecosystem for the digital yuan.
#数字人民币
On August 17, the People’s Bank of China officially announced the addition of 8 banks serving as digital yuan business operating institutions. The relevant institutions have been formally approved to connect to the PBOC-side digital yuan system.
This move is intended to implement the deployment in the “15th Five-Year Plan” outline to “steadily develop the digital yuan,” further enhancing the inclusiveness of digital yuan services, and meeting the public’s demand for secure, convenient, and efficient payment services.
The 8 newly added institutions include three national joint-stock banks—Ping An Bank, Hengfeng Bank, and Bohai Bank—as well as five city commercial banks with regional characteristics—Shanghai Bank, Hangzhou Bank, Huishang Bank, Changsha Bank, and Guangxi Beibu Gulf Bank.
After ensuring that all preparations are in place and passing the acceptance and evaluation by relevant departments, these newly added bank institutions can officially launch and provide end-to-end services for opening, redeeming, and circulating digital yuan to the public.
As a result, the total number of digital yuan operating institutions has increased to 30. This is the second expansion of the digital yuan operating system within the year, following the addition of 12 institutions in April this year. The coverage of services and the range of market participants continue to broaden.
The People’s Bank of China said that going forward, it will proceed with the expansion of operating institutions in an orderly manner according to market-based and rule-of-law principles, continuously stimulating the initiative and creativity of market entities, and gradually building an open, inclusive, and fair-competitive development ecosystem for the digital yuan.
#数字人民币