China expands trial of Digital RMB to include first privately-owned bank IAG


Source: asgam.com asgam.com

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VIEWS China has expanded its trial of its Digital RMB to include a first privately-owned bank. According to China News Service , Zhejiang E-Commerce Bank Co Ltd, located in Hangzhou and 30% owned by Alibaba, has become the seventh bank in China but first private bank to offer testing of the Digital RMB. Customers will be able to download a digital wallet on the same designated app already being used by the country’s six largest commercial banks – the Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, Bank of Communications, China Construction Bank and Postal...