The interbank payment using the e-CNY afforded a zero cost, efficient and convenient payment option in real time, according to the report.
La participación de la moneda estadounidense en las reservas mundiales no ha dejado de disminuir desde hace años. ¿Tomará el euro, yuan o bitcoin su lugar en el centro de las finanzas mundiales?
Another 94 banks plan to access the CBDC via a clearing platform.
The dollar's share of global reserves has declined steadily for years. Will the euro, yuan, or bitcoin take its place at the center of global finance?
The PBoC has been pushing for hardware applications of the digital yuan.
China's central bank holds that crypto trading brings financial risk to the economy, and said it will continue a crackdown on the industry.
Enterprise blockchain in China is receiving government support, while crypto mining is facing a crackdown.
The institute will be used to develop applications of the technology in an effort to boost security for China's central bank digital currency.
Purchasers who pay for their coronavirus coverage with e-CNY can receive discounts.
The authors argue a central bank digital currency will likely be positive for Canadians, breaking monopolies in big tech and traditional finance.
The PBOC also said the central bank digital currency will be compatible with smart contracts.
The Industrial and Commerce Bank of China has become the first bank in the country to launch a feature converting cash to the digital yuan.
Central bank digital currencies will one day be more "smart," and not merely digital versions of cash, Yao Qian said.
A bipartisan bill would require the U.S. Treasury secretary to publish a report on the dollar's role in the global economy, as well as how central bank digital currency efforts are proceeding.