CBDC pilot Archives

China’s digital yuan breaks £12.4bn in transaction volume

China’s CBDC project - the digital yuan - has seen more than 360 million transactions completed with a total value of 100 billion yuan (£12.4bn).

Although still in its pilot phase, such stats make the digital yuan, or e-CNY, the most widely adopted CBDC in the world.

The latest figures come from an official WeChat post by the Bank of China on October 10. Almost six million merchants are now supporting the digital yuan as legal tender across 15 provinces participating...

13 October 2022 | CBDC

BIS declares cross-national Asian CBDC pilot successful

The Bank for International Settlements (BIS) has declared a multinational central bank digital currency (CBDC) pilot a success.

More than £20.5 million was transacted during the month-long testing phase between commercial and central banks in Hong Kong, Thailand, China, and the United Arab Emirates (UAE).

Initially £11 million worth of value was issued amongst participants, which then facilitated 164 foreign exchange transactions and cross-border payments between the...