China's central bank adds eight more banks to digital yuan network

China’s central bank has added eight more banks to its e-yuan network, as it pushes for wider usage of the digital currency.

The People's Bank of China has included Ping An Bank, Bank of Shanghai, Bank of Hangzhou, Bank of Changsha, and four other lenders for digital yuan operations.

They will offer e-yuan services after completing relevant business and technical preparations, the PBOC said in a statement on Monday. 

In line with the 15th Five-Year Plan, the expansion of the central bank-backed digital currency is aiming to provide secure, efficient, and inclusive services for all, it said. 

Following the expansion, a total of 30 digital yuan operators are authorized to carry out the business. 

The PBOC said it will expand authorized operators based on market and legal principles going forward, fostering an open, fair, and innovative digital yuan ecosystem.

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗧𝗵𝗲 𝗦𝘁𝗮𝗻𝗱𝗮𝗿𝗱 𝗔𝗽𝗽 ↓