China's digital currency is used for transactions worth $ 10 billion, 140 million people have digital Yuan money exchanges-regulation

According to a officer from the Chinese Central Bank, the People’s Bank of China (PBOC), China's Digital Currency of the Central Bank (CBDC), the digital Yuan, was used for transactions worth almost $ 10 billion. In addition, the government's digital wallet was downloaded by around 140 million people.

The acceptance of the digital Yuan increases, almost $ 10 billion is handled

mu Changchun, the general director of the Institute for Digital currencies of the Chinese Central Bank, the People’s Bank of China (PBOC), shared progress in the introduction of digital Yuan.

he announced that 140 million people had downloaded the Central Bank (CBDC) Digital currency by October by October. In addition, the digital Yuan was used for transactions with a total value of around 62 billion yuan ($ 9.7 billion), reported Reuters.

While China actively tested its digital Yuan, the PBOC official said that there is no official start date for the digital currency.

MU added that 1.55 million dealers could have accepted payments with ECNY walls so far, including supply companies, catering services, transport, retail and government services.

A growing number of central banks worldwide is considering the introduction of own CBDCs. According to the Atlantic Council CBDC-tracker 87 countries currently check a CBDC. Seven of them are at the start, 17 are in the pilot phase, 15 are in development and 39 are in research.

In September, the head of the Bank for International Payment Compensation (BIZ), Benoît Cœuré, pushed Central banks to react to the digital currencies of the central banks to compete with initiatives in the private sector, including cryptocurrencies.

What do you think of the number of people who are already using the digital Yuan? Let us know in the comment area below.

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