So far this year, there have been several developments for China’s central bank digital currency (CBDC) or eCNY. The latest is an extension of cross border activities using the digital yuan, specifically with the ASEAN.
The number of regions involved in the domestic digital yuan pilots continues to expand. Guangxi, on China’s Western border with Vietnam, is one of the latest to be included. Apart from domestic scenarios, its CBDC pilots plan to target the ASEAN with a focus on trade.
Three areas specified include:
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