Digital yuan use set to expand on PBoC push

BEIJING: China is working to expand the application scenarios of the digital yuan while paving the way for cross-border payments in the e-CNY, a process that can help facilitate the country’s economic recovery, experts say.

Their observations emerged after the People’s Bank of China (PBOC), the country’s central bank, assured last Thursday that it will promote smooth digital-yuan trials and actively explore innovative applications of the digital fiat currency.