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PBoC: Digital yuan trial expands to 11 more cities PBoC: Digital yuan trial expands to 11 more cities

PBoC: Digital yuan trial expands to 11 more cities

The digital yuan continues its expansion in China, adding 11 more cities and regions, totaling 23 cities, to the list of pilot test areas. Most notably, trials will begin in Guangzhou where the Asian Games will be held later this year.

PBoC: Digital yuan trial expands to 11 more cities

Cover art/illustration via CryptoSlate

On March 31, 2022, the People’s Bank of China held a symposium on the pilot work of digital RMB (digital yuan) research and development to summarize the preliminary research and development pilot work, and arrange the deployment of the next stage of work.

Present at the symposium were Yi Gang, Governor of the People’s Bank of China, and Fan Yifei, Vice Governor of the People’s Bank of China, as per a statement from PBoC.

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