Taiwan completes phase two CBDC trials with banks

Resolving further challenges could take at least two years, governor says


Taiwan’s central bank said on June 29 that it has completed the second phase of its central bank digital currency (CBDC) trials.

Yang Chin-Long, governor of the Central Bank of the Republic of China, said this phase of the CBDC trial had been conducted in a “closed loop” environment. The CBRC conducted the trial with five commercial lenders.

Yang said the central bank could take at least two years to overcome a number of challenges in creating a prototype CBDC, Reuters reported. It will have

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