China’s expansion of the pilot programme for its digital yuan is said to be primarily focusing on its use in the retail sector. Image: Shutterstock
China’s expansion of the pilot programme for its digital yuan is said to be primarily focusing on its use in the retail sector. Image: Shutterstock

China’s sovereign digital currency plans must be globally compatible to internationalise the yuan, analysts say

  • The ‘interoperability’ of the digital yuan with international payment systems and other central bank digital currencies will determine its use abroad
  • There is a sense of urgency to promote greater use of the yuan to help China offset threat of worst-case US sanctions that could cut it off from dollar payment system

China’s expansion of the pilot programme for its digital yuan is said to be primarily focusing on its use in the retail sector. Image: Shutterstock
China’s expansion of the pilot programme for its digital yuan is said to be primarily focusing on its use in the retail sector. Image: Shutterstock
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