News Snapshot:
BEIJING: Chinau0027s central bank said on Friday it would steadily push forward pilot schemes to develop its digital yuan, and will not set a timetable for rolling out the digital currency.China is a front-runner in the global race to launch central bank digital currencies (CBDC) and has held trials in several major cities including Shenzhen and Shanghai.The country will mainly use its digital yuan for domestic retailing payments, while exploring pilot schemes in using the digital currency for cross-border payments, the Peopleu0027s Bank of China (PBOC) said in a white paper published on its website.Pilots on cross-border payment will be...
