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Caixin

The challenges ahead for China's digital yuan

Expansion will require new rules and huge investment in datacenters and other infrastructure

Expanding use of the digital yuan comes with huge opportunities, as well as challenges.   © Reuters

In three years of experiments, China's central bank has made significant progress in developing its central currency.

Total transactions since late 2019 reached 83 billion yuan ($12.3 billion) as of the end of May. Nearly 4.6 million merchants across China have come to accept the digital yuan, known as the e-CNY, as payment. People have used it for shopping, dining, personal finance and business uses such as paying taxes and employees.

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