China adds eight banks to digital yuan network as operators reach 30

The People’s Bank of China has added eight commercial banks to its digital yuan operating network, taking the number of e-CNY service operators to 30 as the central bank continues expanding access to its state-backed digital currency. Summary China’s central bank has added eight banks to the digital yuan network, taking the number of operators to 30. The new banks will begin offering e CNY services after completing business and technical preparations. The expansion follows changes allowing verified digital yuan wallets to earn interest from January 2026. China has also increased cross border e CNY trials, including a July payment between China and Singapore. According to an Aug. 17 statement from the People’s Bank of China, Ping An Bank, Hengfeng Bank, China Bohai Bank, Bank of Shanghai, Bank of Hangzhou, Huishang Bank, Bank of Changsha and Guangxi Beibu Gulf Bank have been approved as banking institutions permitted to operate digital yuan services. The eight banks have also been connected to the central bank-side digital renminbi system, putting the technical link needed for them to provide e-CNY services in place. Customer-facing operations will begin after each institution compl...