More Chinese banks join pilot program of sovereign digital currency

 

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Two of China's biggest state-owned banks have joined the pilot program of the sovereign digital currency as the central bank looks to expand internal testing of the digital yuan, reported Chinese local media outlets.

Postal Savings Bank of China Co. Ltd. and China Citic Bank Corp. Ltd. have joined the pilot program to create services for the digital currency developed by the People’s Bank of China (PBOC) and conduct initial tests, reported by media outlets including Caixin.

The two lenders joined the four largest state-owned banks - Industrial and Commercial Bank of . . .

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