China’s digital currency pilot program has picked up pace, with transaction volumes doubling over the past month, according to the country’s central bank governor, who said the trial has so far been smooth.
There have been more than 4 million transactions worth over 2 billion yuan ($298.4 million) in total in the trial of the world’s most advanced central bank digital currency so far, Yi Gang, governor of the People’s Bank of China, said at the Hong Kong FinTech Week conference on Monday.
Last month, his deputy, Fan Yifei, said the program had so far seen 3.1 million transactions worth 1 billion yuan.
“We have completed the architecture design and started joint testing” across four cities with the digital yuan, Yi said. “So far, the experiment and pilot program have gone smoothly.”
