China’s central bank to expand deployment of e-CNY
Lan Zou, head of monetary policy at the PBoC, announced that the country would be expanding the number of digital yuan (e-CNY) test sites in the country from 11 to 23. They are spread out across 15 out of 31 of China’s provinces and autonomous regions.
In its latest data update, Chinese consumers have spent a cumulative 264 million transactions amounting to $12.35 billion, or 83 billion CNY, as of May 31. More than 4,567,000 merchants across the country have begun accepting the CBDC.