BNP Paribas to promote CBDC use by linking digital yuan to bank accounts – report

BNP Paribas (OTCQX:BNPQY) (OTCQX:BNPQF) (OTCPK:BNPZY), in partnership with the Bank of China, is promoting the use of China’s central bank digital currency by linking digital yuan wallets to bank accounts, according to a Friday report by the South China Morning Post that cited a statement. Corporate clients of the French bank will be able to connect to the digital yuan via a connection with the BOC’s system to enable real-time use of the CBDC. Furthermore, BNP Paribas China (OTCQX:BNPQY) said it will explore expanding the use of China’s CBDC for smart contracts, supply chain finance and for utility and cross-border…