China starts public trials of experimental CBDC

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PBoC

The People’s Bank of China

Chinese authorities are conducting the first public trials of its central bank digital currency in the southern city of Shenzhen, local officials told Central Banking.

The Luohu district of Shenzhen has distributed 10 million yuan ($1.5 million) in China’s experimental CBDC as part of broader public trials, local officials said. This marks the first time that the prototype CBDC has been used in retail payments, after “closed pilot tests” began in four cities in April.

The trial system is

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