Digital yuan to appear in 8 new Chinese banksThis year, the People's Bank of China tripled the number of banks participating in digital yuan (e-CNY) operations, increasing the total from ten at the beginning of the year to 30.
Eight new banks were added this week, including Ping An Bank, Hengfeng Bank, Bank of Shanghai, and Bank of Hangzhou. They have connected to the e-CNY system and will begin providing services after completing preparatory work.
The update to the list of operators is the second in 2026. Twelve institutions were added in April. The Chinese central bank stated that it will continue to add operators to its system.
This expansion is part of a major reform that took effect on January 1. Under the new rules, digital yuan held in commercial bank wallets have become deposit liabilities, with banks required to pay interest on them, and balances covered by the deposit insurance system.
