Digital Yuan Transaction Volume Exceeds $14B
Main page News, China, CBDC

According to data provided by the People's Bank of China, the cumulative transaction volume with the digital yuan (e-CNY) reached 100.04 billion yuan or about $14 billion at the end of the summer.

By way of comparison, by the end of 2021, the figure was up to 87.57 billion yuan or $13.68 billion, and 261 million unique digital wallets were recorded.

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During the reporting period, the number of transactions completed with the central bank digital currency in 15 provinces reached 360 million. In particular, the e-CNY was accepted at 5.6 million merchants.

Some government agencies are also involved in the pilot project.

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According to the report:

"Multiple e-government service platforms have opened up services to process e-CNY receipts for utility bills, tax refunds, monthly health insurance payments, etc."

The media reported in September on the expansion of e-CNY testing to four provinces.

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