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China's Bank of Ningbo readies digital yuan business as Beijing expands e-CNY
China's Bank of Ningbo said it is inviting suppliers to help build a system to handle the digital yuan, in a sign that the country's central bank may soon hand out more licenses as it tries to broaden the use of its e-CNY. The People's Bank of China (PBOC) may allow another 12 Chinese banks to conduct e-CNY businesses, local media outlet Caixin reported late on Thursday. Currently, China has licensed 10 banks for digital yuan business, including top state banks such as Bank of China and China Construction Bank. Beijing is stepping up its e-CNY initiative to cement its lead over other central banks in digital ... (full story)
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