CHINA's official digital currency  E-CNY

What exactly is e-CNY?

e-CNY is China's official digital currency or digital Yuan introduced by PBOC (The People Bank of China)

When was it introduced?

The first batch of digital Yuan was introduced in 2020 in 4 cities -Shenzhen, Suzhou, Xiongan and Chengdu

What's the need?

It's part of China's digital infrastructure. e-CNY is Central bank digital currency for the whole nation.

The Latest Update

PBOC has increased its efforts to promote e-CNY usage in 4 provinces for faster adoption.

Total Usage so far

The bank officials didn't comment but as per data, in 2021, the total unique users using e-CNY stands at 261 million

Ahead of US & India

PBOC introduced the digital currency ahead of US digital dollar & India's digital rupee by FR & RBI.

CBDC powering banks

By introducing digital currencies central banks  will have more control over money & its traceability.

The Side-effect

For users its a bad news when your money can be traced easily by the govt & they can freeze your account anytime without notice.

Iran joins China

Iran has joined China in the CBDC race  by launching Crypto Rial

Learn About CBDC

Swipe Up & checkout types of CBDC & additional details

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