Digital Yuan: China advances with its digital currency

This electronic currency is issued by the Chinese central bank, and can be used for payments and investments.

According to CCTV Financial News, recently, the use of digital yuan in the securities market was approved by China Securities Regulatory Commission (CSRC). This allows investors to purchase public funds and other financial products. 

Digital yuan will facilitate transactions

The digital yuan offers convenience, security and traceable transactions. It is also being adopted in science parks and universities as an alternative to paper bills. Furthermore, the currency allows transactions to be made 24 hours a day, 7 days a week, including outside normal trading hours.

The full release does not yet have a set date, but a pilotthe user one can start soon. This puts China at the forefront of digital currencies, with the potential to influence the global financial system.

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