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China’s digital yuan and payment apps Alipay and WeChat Pay were not competitors, Mu Changchun, the director general of the digital currency research institute at the People’s Bank of China (PBOC), said on Friday.
“The digital currency issued by the central bank is money,” he told a panel discussion at the Lujiazui Forum in Shanghai. “Digital wallets are carriers that offer the IT infrastructure to support the use of this currency,” he said.
Mu’s statements are being viewed as soothing any concerns about competition between the central bank’s digital currency and . . .
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