China’s e-CNY Wallet Holders Hit 140 Million

Cryptocurrency, blockchain technology, mining in China concept. Bitcoin, ripple, litecoin, eos, ethereum coins set on chinese flag background

The world’s second-biggest economy has some 140 million individuals with wallets for its new digital yuan as of this month, according to a senior official of the Chinese central bank.

Source: Reuters

The latest data available shows that the total transactions using the new digital yuan stood at around 62 billion yuan or $9.7 billion, even as the digital currency has yet to be launched.

People’s Bank of China Digital Currency Institute Director-General Mu Changchun said that there is still no official launch date for the e-CNY, but over 1.55 million merchants now accept payments using eCNY wallets.

The development comes as a number of central banks are developing their own central bank digital currencies, in a bid to upgrade financial systems and avert competition from cryptocurrencies.



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