China adds 8 banks to digital yuan network as operator count hits 30
China’s central bank has expanded its digital yuan network by adding eight more banks, bringing the total number of e-CNY operating institutions to 30. The new operators are Ping An Bank, Hengfeng Bank, China Bohai Bank, Bank of Shanghai, Bank of Hangzhou, Huishang Bank, Bank of Changsha, and Guangxi Beibu Gulf Bank. They will join the PBOC’s system after completing technical and operational preparations. The move follows the addition of 12 institutions in April, when city commercial banks were also brought in. Before this year, only 10 banks were authorized operators. The PBOC continues to widen access to the digital yuan, which has already been used for merchant payments, utilities, and government services. The central bank says the broader operator network is meant to increase competition and improve coverage, including for small businesses and cross-border trade.
