The People’s Bank of China (PBOC) has added eight banks to its digital yuan operating network, bringing the total number of institutions authorized to provide digital yuan services to 30. The new operators, including Ping An Bank, Bank of Shanghai, Bank of Hangzhou, Huishang Bank and Changsha Bank, have connected to the system and will begin offering services once their operational and technical preparations are complete. This marks the second expansion of the two-tier operating system this year, after 12 institutions were added in April. Since January 1, the upgraded 2.0 framework has treated digital yuan balances in verified wallets as deposit-like money, with banks paying interest on those balances.
Source: Read the original article
