China to launch digital yuan next year to replace cash ...United Arab Emirates

Russia Today - News
China to launch digital yuan next year to replace cash
source : Russia Today ( United Arab Emirates ) () 80
The People’s Bank of China has revealed plans to have its sovereign digital currency ready in time for the 2022 Winter Olympics. The announcement comes as the Covid-19 pandemic has accelerated a shift away from paper money. Limited trials are already underway in Shenzhen, Suzhou, Chengdu and the Xiongan New Area in the northern province of Hebei, said the central bank’s governor Yi Gang. He told reporters that China’s government plans to run pilot tests at Olympic venues, though there remains no official timetable for a release. An unnamed member of the State Council with knowledge of the project told the Nikkei Asia Review that If the

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