China starts public trials of experimental CBDC
Chinese authorities are conducting the first public trials of its central bank digital currency in the southern city of Shenzhen, local officials told Central Banking.
The Luohu district of Shenzhen has distributed 10 million yuan ($1.5 million) in China’s experimental CBDC as part of broader public trials, local officials said. This marks the first time that the prototype CBDC has been used in retail payments, after “closed pilot tests” began in four cities in April.
The trial system is
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
More on Financial market infrastructure
Canadian RTGS system improves payments efficiency, paper says
Researchers examined transition from a hybrid high-value payment system to RTGS
Singapore and Malaysia set up cross-border payments link
Travellers can use QR codes to pay for transactions in foreign stores
BIS to trial Asian instant payments link
Project Nexus aims to create standardised cross-border link for different countries’ systems
Fed’s Bowman warns of need for crypto standards
Board of governors member says banks’ use of third-party service providers also increases risk
RBA outlines retail CBDC pilot projects
Australian central bank will test 14 use cases, working with major lenders and other firms
Bank of Thailand to open virtual banking applications
Virtual banks should open in 2025 and come under same regulatory regime as existing lenders
Fijian central bank upgrades RTGS
New system will handle $81.6 billion of transactions annually, Reserve Bank of Fiji says
Bank Indonesia announces CBDC plan
Central bank will test wholesale and retail CBDC as Warjiyo says private digital assets pose new risks