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Total digital-yuan transactions in the pilots across China have reached $5.3 billion and overseas visitors will be granted access to the sovereign digital currency without a local bank account during trials at the 2022 Winter Olympics in Beijing, according to a central bank white paper.
“The internationalisation of a currency is a natural result of market selection,” the PBOC said in the white paper.
China has been conservative in managing expectations over the use of the digital yuan for cross-border payments and internationalisation of the yuan, saying it still faces a series . . .
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