China's central bank adds 12 banks as digital yuan operators

A visitor displays a cup of coffee purchased with China's digital yuan, or the e-CNY, at an exhibition of the 6th Digital China Summit in Fuzhou, southeast China's Fujian Province, April 26, 2023. (Xinhua/Wei Peiquan)

BEIJING, April 2 (Xinhua) -- China's central bank announced Thursday that it has added 12 banks to its list of authorized institutions for digital yuan operations.

The move aims to promote the steady development of the digital currency, improve the inclusiveness of its services, and meet public demand for secure, convenient and efficient digital yuan services, according to the People's Bank of China.

The newly added operators, including China CITIC Bank, China Everbright Bank and Huaxia Bank, will be linked to the central bank's digital yuan system.

They will begin offering digital yuan services after completing operational and technical preparations.

The central bank said it will continue to expand the number of operators in order to encourage broader market participation and support innovation.

Prior to this expansion, there were 10 authorized operators for the digital yuan, including six state-owned commercial banks, two joint-stock commercial banks and two internet banks.