PBoC Says Digital Yuan Tests Focus on Small Transactions After Rumored Property Sale
The People's Bank of China has apparently played down rumors of a house sale settled with its in-the-works digital currency.
The central bank needs to balance privacy for users with "international consensus" on risk control, the director of the PBoC's Digital Currency Research Institute said
A former deputy governor of the People’s Bank of China compared notes with the chairman of the Monetary Authority of Singapore.
In order to support the retail payment system, the central bank has to step up its own digital yuan.
A local report suggests the pilot is an indication the digital yuan is close to being launched.
The Chinese e-commerce giant has reportedly agreed to help the nation's central bank develop infrastructure including a wallet for its cash-equivalent digital currency.