The digital yuan – developed by the central bank and now under trial in a dozen cities – adopts a two-tier structure, where the central bank issues the digital currency to authorised commercial banks, which then exchanges and circulates it to the public. Photo: Xinhua The digital yuan – developed by the central bank and now under trial in a dozen cities – adopts a two-tier structure, where the central bank issues the digital currency to authorised commercial banks, which then exchanges and circulates it to the public. Photo: Xinhua
The digital yuan – developed by the central bank and now under trial in a dozen cities – adopts a two-tier structure, where the central bank issues the digital currency to authorised commercial banks, which then exchanges and circulates it to the public. Photo: Xinhua

China digital currency: e-yuan will ‘reinforce’ banks’ competitive edge in payments, Moody’s says

  • China is already a largely cashless society, thanks to huge popularity of digital payment tools operated by Tencent Holdings and Ant Group
  • The digital yuan is being developed by the central bank and now under trial in a dozen cities

Topic |   China digital currency
The digital yuan – developed by the central bank and now under trial in a dozen cities – adopts a two-tier structure, where the central bank issues the digital currency to authorised commercial banks, which then exchanges and circulates it to the public. Photo: Xinhua The digital yuan – developed by the central bank and now under trial in a dozen cities – adopts a two-tier structure, where the central bank issues the digital currency to authorised commercial banks, which then exchanges and circulates it to the public. Photo: Xinhua
The digital yuan – developed by the central bank and now under trial in a dozen cities – adopts a two-tier structure, where the central bank issues the digital currency to authorised commercial banks, which then exchanges and circulates it to the public. Photo: Xinhua
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