China expands digital yuan trials to more cities

03-04-2022 09:58 AM

Ammon News - China will expand its digital yuan trial to more areas from the current 11 cities and regions, according to the country's central bank.

In a statement on Sunday, the People’s Bank of China said that the market’s response toward the use of the digital yuan in pilot cities and Winter Olympic venues has been good, as user and transaction scales have both been "growing steadily,".

Trials have taken place in 10 cities and regions in addition to the closed loop of the 2022 Winter Olympic Games.

China's digital yuan transactions hit nearly 87.57 billion yuan (13.78 billion U.S. dollars) at the end of 2021.

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