The People's Bank of China (PBOC), the country's central bank, has just announced the digital yuan will be ready for use in the 2022 Winter Olympics.
The Chinese television channel CCTV has reported citing a source from the central bank's Digital Currency Research Institute that the digital yuan will be ready for this event, which will be held in Beijing.
If we take into consideration the currency would be ready for 2022, then it will probably be launched sometime in 2021. However, the PBOC has not yet shared any official calendar specifying the dates.
It has also been reported several state-owned banks are carrying tests with the currency in the Chinese cities of Shenzhen, Suzhou, Xiong'an New Area and Chengdu.
Last week iHodl reported the Agricultural Bank of China and the Bank of China had launched mobile apps compatible with the digital yuan.
Last week it was also known government employees in the city of Suzhou would receive 50% of their May transportation subsidies in digital yuans.
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