Cryptocurrency Q&A
Does China have CBDC?
Does China have CBDC?
JejuSunshine
Fri Nov 01 2024
|
7 answers
1525
I've heard about Central Bank Digital Currencies (CBDCs) and I'm wondering if China has its own CBDC. Is there any official information or announcement regarding this?
7 answers
emma_rose_activist
Sun Nov 03 2024
The Digital Yuan represents a unique form of retail Central Bank Digital Currency (CBDC).
Was this helpful?
264
60
Maria
Sun Nov 03 2024
It is specifically designed to reach individuals directly.
Was this helpful?
276
55
Nicola
Sun Nov 03 2024
This is in contrast to wholesale CBDCs, which are meant for interactions between banks and other central banks.
Was this helpful?
82
43
lucas_taylor_teacher
Sat Nov 02 2024
The primary purpose of the Digital Yuan is to serve as a replacement for physical cash.
Was this helpful?
254
44
CryptoEmpireGuard
Sat Nov 02 2024
As such, it does not offer any interest rates.
Was this helpful?
320
76
Load 5 more related questions
