Yesterday China’s central bank announced the latest statistics of its central bank digital currency (CBDC) issuance. By the end of August, the pilot digital yuan had a cumulative 360 million transactions, 36% higher than the 264 million three months earlier.
The Digital Currency Research Institute said that the cumulative value of eCNY transactions was 100.04 billion yuan ($13.9bn), a 20% increase from 83 billion ($11.5bn) in May. Together this implies the average transaction value has declined from 314 yuan ($43.52) to 278 yuan ($38.50). This could mean there were fewer business transactions.
The number of merchant stores accepting transactions is now 5.6 million compared to 4.567 million.
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