China is expanding its Digital Yuan (e-CNY) pilot program to more cities as it accelerates the development and adoption of its Central Bank Digital Currency (CBDC).
The expansion includes several major urban centers and economic zones, where residents and businesses can now use the Digital Yuan for everyday transactions, such as shopping, dining, and public transportation.
The People’s Bank of China (PBOC) has been actively promoting the Digital Yuan through partnerships with major commercial banks and technology companies, aiming to increase its usage across various sectors.
The expansion of the pilot is part of China’s broader strategy to modernize its financial system, reduce reliance on cash, and enhance monetary control. The success of the Digital Yuan pilot is being closely watched by other countries as they explore their own CBDC initiatives.
