Caixin: Digital Yuan Operating Institutions Expand, 12 Commercial Banks May Join

Odaily News Following the initial 10 banks, including the six major state-owned banks, 12 commercial banks are expected to connect to the central bank's digital yuan system. It is reported that seven national joint-stock commercial banks—Shanghai Pudong Development Bank, China Guangfa Bank, Huaxia Bank, China Minsheng Bank, China CITIC Bank, China Everbright Bank, and China Zheshang Bank—along with five regional city commercial banks—Bank of Jiangsu, Bank of Beijing, Bank of Ningbo, Bank of Nanjing, and Bank of Suzhou—are likely to be included. To date, there are 10 banks operating as digital yuan institutions, including Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, Bank of Communications, Postal Savings Bank of China, China Merchants Bank, Industrial Bank, WeBank, and MYbank. (Caixin)