Hong Kong in Talks With PBOC on Digital Yuan Trial for Cross-Border Payments
PBOC’s Digital Currency Institute and the HKMA are discussing the technical pilot testing of using e-CNY form making cross-border payments.
The latest digital currency giveaway is aimed to gauge user experience ahead of an expected launch.
"We are not like libra and we don’t have an ambition to replace existing currencies,” said a former governor of the People's Bank of China.
Trials of China's central bank digital currency continue, with ATMs now starting to be used in Shenzhen.
Didi, Meituan and Bilibili are reportedly taking part in the latest test of the digital yuan, allowing lottery winners to spend the digital currency online.
“The PBOC that is not criticized by the public will not withstand the test of history," the current head of the central bank says. Zhou Xiaochuan's legacy – the digital yuan – was sidelined, until it became necessary.