China adds eight banks to digital yuan network

• China added eight banks to its digital yuan network, taking the total to 30 operators.
• The expansion adds more financial institutions to the central bank digital currency system.
• The move comes as China continues expanding the digital yuan’s use across its financial system.

China added eight banks to its digital yuan network, bringing the number of operators to 30.

The expansion gives more banks access to infrastructure supporting China’s central bank digital currency.

The new additions increase the number of financial institutions involved in the digital yuan network.

The digital yuan is issued by the People’s Bank of China and operates alongside existing payment systems.

China has continued testing the currency across retail payments, public services and other financial applications.

The latest expansion adds to efforts to increase the digital yuan’s reach across the country.

The move highlights China’s continued development of a state-backed digital currency infrastructure.