On Tuesday,
Forbes published an article stating that four banks and three payments companies will be involved in the initial release of the Central Bank Digital Currency (CBDC). Today a report in China’s
Sina Finance states that ‘sources close to the central bank’ said the information was ‘inaccurate guesses’.
In a
separate article we show how recent changes in the clearing of China’s online payments makes implementing a CBDC easier.
The
four banks mentioned by Forbes were the four big state banks China Construction Bank, the Bank of China, the Agricultural Bank of China, and the Industrial and Commercial Bank of China. Digital payments companies Alibaba (Alipay) and Tencent (WePay) were also included alongside China’s answer to VISA, state-backed UnionPay.
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