Digital Yuan started to be used for testing purposes in China. The Chinese Central Bank (PBoC) official stated that with the increase in Bitcoin, interest in Digital Yuan will increase.
There are new developments about central bank-backed digital currencies (CBDC) in China, which does not make peace with crypto currencies, especially Bitcoin.
Speaking to CNBC a short time ago, a Bank of China (PBoC) official made important statements about the Digital Yuan. The official stated that the increase in the popularity of Bitcoin could indirectly increase the adoption rate of Digital Yuan.
According to the information in CNBC’s news dated April 2, Digital Yuan, which is currently beta tested and whose name has not been fully clarified, has started to be used in local stores in some selected cities as a pilot application.
Wang Xin, Head of the Research Bureau of the Bank of China (PBoC), stated that the Digital Yuan has been used in pilot cities for the past year, and interest in the central bank digital currency has been strong.
Digital Yuan, which was first started working in 2014, is expected to be available in a very short time.