Today a report in Sina identified more than 20 companies involved in China’s central bank digital currency project (CBDC). While only eight firms were originally announced as members of the digital renminbi project (DC/EP), the involvement of others has been confirmed by several of these companies and, in most cases, is more than speculation.
The original participants are the four state-owned banks, the big three telecoms companies and Huawei, which signed a cloud hosting deal with the People’s Bank of China.
The banks need to rely on the technology providers for part of the work. Shenzhen Sunline Tech, also sometimes referred to as Everbright, serves numerous banking customers with core banking systems and digital banking. This week the company confirmed it was preparing systems for the central bank digital currency.
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