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China Speeds up Limited Digital Yuan Trial Use: Daily

CHINA PRESS
MNI (Beijing)

China is speeding up the trial use of its digital currency with the PBOC recently included China Merchant Bank as a digital currency operator, joining most of the country's big banks, telecoms as well as Ant Financial and Tencent Financial participating in the promotion of the digital currency's operations, the Economic Information Daily said. Provincial capitals including Hainan, Changsha and Xi'an were also joining other cities disclosing their report cards on the adoptions of the new currency in their areas, it said. However, the digital currency remains little understood by consumers and merchants, and so far the uses are limited to the issuances of low-amount red packets, the newspaper said.

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