Bank

Yuan

Trillion

<p>The digital yuan (e-CNY), China's state-backed digital currency, has reached a major milestone, surpassing $1 trillion in transaction volume in 2024. This marks a significant achievement for China’s central bank digital currency (CBDC), which continues to expand its role in both domestic and international commerce.</p>
<p>The People’s Bank of China reported that e-CNY has been increasingly adopted across the country, and its success demonstrates China's leading position in the global race to develop and implement a functional CBDC. The growth of the digital yuan also highlights its potential for wider adoption in international trade, which could challenge the dominance of the <a href="https://ultramining.com/news/en/senator-lummis-pushes-for-crypto-regulation-amid-sec-lawsuits/" rel="noopener noreferrer nofollow">U.S.</a> dollar in some markets.</p>

China’s Digital Yuan Reaches $1 Trillion in Transactions

Ultramining_Eng

Other articles published on Sep 11, 2024

Io.net and Flock.io Launch World’s First Proof-of-AI Consensus Mechanism

Samsung Next Invests in Startale Labs, Partner in Sony’s Soneium Blockchain Development

Ripple Announces Smart Contracts for XRP Ledger, Expanding Features for NFTs, AMMs, and DEXs

OpenAI to release ‘Strawberry’ reasoning for ChatGPT in coming weeks: Report

FLOKI Completes $CAT Airdrop, But an Error Leaves Some Users Tokenless

Important Announcement Concerning These 4 Trading Pairs on Binance: Details

Join our free newsletter for daily crypto updates!