Analysis: Interest-Bearing Digital RMB to Absorb Tokenized Deposit Efficiency and Restructure Monetary Credit Relationships

Odaily News According to an article titled "Interest-Bearing Digital RMB Empowers Hong Kong's Financial Innovation" published by Hong Kong media Ta Kung Pao, it was pointed out that the balance in digital RMB wallets will accrue interest starting from January 1, 2026, marking the entry into the era of "Digital Deposit Currency 2.0". Digital RMB 2.0 has restructured monetary credit relationships through institutional innovation, somewhat similar to tokenized deposits promoted by commercial banks (such as JPMorgan's JPM Coin), but it creates a new hybrid form: absorbing the efficiency of tokenized deposits while being backed by sovereign currency credit at its core. After bearing interest, digital RMB possesses attributes that allow it to compete with Hong Kong's offshore RMB deposits.