China’s central bank expanded its authorized e-CNY operators from 22 to 30, adding Ping An Bank, Hengfeng Bank, China Bohai Bank and five other commercial lenders. In April 2026, twelve new banks had already joined the network in a single wave. Since January 1, 2026, verified e-CNY wallet balances have been reclassified as interest-bearing deposits at demand-deposit rates, transforming the digital currency from a cash equivalent into a deposit-like instrument. By late November 2025, cumulative transactions had reached 3.48 billion worth 16.7 trillion yuan, approximately $2.3 trillion. In July 2026, the PBOC also launched a pilot with Singapore for cross-border e-CNY transactions.
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