Central Bank of China has no date for the digital yuan
The president of the institution confirmed this in an interview, after pilot tests were given in several cities in the region
The president of the Central Bank of China, Yi Gang, assured that an exact date for the launch of the digital yuan does not exist today.
“These tests are just routine work for research and development of digital currency (R&D). No timeline for an official launch has been revealed”, Gang said in an interview.
This pilot test, mentioned by the leader of the institution, was carried out in the cities of Shenzhen, Suzhou, the new area of Xiongan, Chengdu and at the future site of the Winter Olympics.
China, according to various media outlets, could speed up the launch of its CBDC to avoid possible financial threats from the United States and manage post-quarantine measures by COVID-19.
This is not the first time that this type of information has come to light, in 2019 it was reported that due to the Facebook Libra project, China would have accelerated the development of this digital currency at the time.
K. Tovar
Source: Agencies
