China's central bank has added more cities to test its digital currency. crypto cryptocurrency
China’s central bank, the People’s Bank of China, has added more cities to test its digital currency. According to the latest official data, the digital yuan has more than 261 million users.The Chinese central bank, the People’s Bank of China , said Saturday that it is adding more pilot cities to test its central bank digital currency , the digital yuan .
The new pilot cities are Tianjin, Chongqing, Guangzhou, Fuzhou, Xiamen, and six cities in the Zhejiang province that will host the 2022 Asian Games in September. The six cities are Hangzhou, Ningbo, Wenzhou, Shaoxing, Jinhua, and Huzhou. The digital yuan is already being tested in 10 major cities: Shenzhen, Shanghai, Suzhou, Xiong’an, Chengdu, Hainan, Changsha, Xi’an, Qingdao, and Dalian. It was also tested at the Winter Olympics in Beijing.Policies must be designed to stimulate creativity and enthusiasm among the banks, technology firms, and the local government in the development, promotion and proliferation of the digital yuan.
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