China expands digital yuan programme with 12 new bank operators

Reuters

Thu, April 2, 2026 astatine 6:50 AM CDT 1 min read

BEIJING, April 2 (Reuters) - China's cardinal slope has expanded its integer yuan programme by adding a twelve further ‌banks arsenic operators, confirming a Reuters study past ‌month.

The 12 caller banks allowed to grip the integer yuan see China ​CITIC Bank, China Everbright Bank, China Guangfa Bank, Shanghai Pudong Development Bank, among others, the People's Bank of China (PBOC) said successful a statement.

The determination aims to "enhance the inclusiveness of integer ‌yuan services" and conscionable ⁠the nationalist request for "safe, convenient and efficient" outgo options, the slope said.

Thursday's announcement takes the ⁠total fig of authorised banks to grip the integer yuan to 22.

Beijing's propulsion to enactment the integer yuan into the ​real system ​has been dilatory truthful acold ​since its motorboat successful ‌2019, with astir retail customers already capable to marque harmless and low-cost transactions via platforms specified arsenic Alibaba's Alipay and Tencent Holdings' WeChat Pay.

The strategy comes alongside China's intensifying crackdown connected virtual currencies and a prohibition connected stablecoins that ‌highlights the opposition to the U.S., ​where President Donald Trump has ​promoted cryptocurrencies and banned ​a integer dollar.

"The cardinal slope volition proceed ‌to grow the fig of operating ​institutions successful ​an orderly mode successful accordance with market-oriented and rule-of-law principles," the PBOC said, adding that it seeks to ​build an "open, inclusive ‌and just competitory environment" for the integer currency's development.

(Reporting ​by Ethan Wang and Ryan Woo, Editing by ​William Maclean and Arun Koyyur)