The People’s Bank of China has expanded its digital yuan network from ten to thirty banks since the beginning of 2026, with eight new institutions joining this week including Ping An Bank and Bank of Shanghai. A regulatory change effective January 1st now grants e-CNY deposits the status of classic banking liabilities, with interest payments and deposit insurance coverage. Between January and November 2025, China processed 3.48 billion transactions worth a cumulative 16.7 trillion yuan, approximately 2.5 trillion dollars. This amount represents a tenfold increase compared to the 250 billion dollars recorded in mid-2023.
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