China expands digital yuan programme with 12 new bank operators
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China's central bank has expanded its digital yuan programme by adding 12 new banks as operators, bringing the total to 22. This move aims to enhance the inclusiveness of digital yuan services and meet public demand for efficient payment options. The expansion comes amid a slow rollout since its 2019 launch, contrasting with the U.S. approach to cryptocurrencies. The People's Bank of China plans to continue expanding the number of institutions handling the digital yuan in a market-oriented manner, fostering a competitive environment for its development.
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