The new digital yuan, currently undergoing trials, can help to increase the international usage of China’s national fiat, experts have stated. As the renminbi (RMB, CNY) is becoming one of the world’s most important currencies, the People’s Bank of China is planning to conduct cross-border tests with the yuan’s digitized version, the e-CNY. Digital Yuan to Facilitate ‘Renminbi Internationalization’ The digital yuan will further promote the process of “internationalization” of the renminbi, Chinese experts believe. This can happen when the Chinese yuan becomes the world’s third-largest currency — in terms of pricing, settlement, and international reserves —current and former officials said Wednesday, quoted by the China Internet Information Center portal. The e-CNY, arguably the most advanced central bank digital currency ( CBDC ), is still being tested primarily in domestic retail payment trials. However, cross-border e-commerce could provide the next use case scenario for the “na
Official Bitcoin Latest News Blog 🗞️