Chinese Central Bank Announces that Digital Renminbi Is Ready for Deployment – China Banking News

News Snapshot:

The People’s Bank of China (PBOC) has announced via its official news outlet that all preparations have been completed for the launch of its Central Bank Digital Currency (CBDC). The article “New Development Opportunities for China’s Statutory Digital Currency” (中国法定数字货币发展新机遇) published by PBOC’s Financial News (中国金融) on 19 September said that it had “completed technical preparations” for the CBDC, and that it already “satisfied conditions for deployment.” The article said that PBOC commenced research into a statutory digital currency in 2014, and that by January of 2017 it had established a Digital Currency Research Institute. As of April 2020 PBOC...