Global FinTech Weekly Vol.7 | Digital RMB ready for launch?

China’s central bank is “almost ready” to launch digital RMB; blockchain is only one of the options On Aug 10, at the China Financial 40 Forum(CF40), Mu Changchun, Deputy Director of the People’s Bank of China’s (PBOC) Payment Department, confirmed the potential launch of digital Rmb, which has been studied for five years. The digital RMB will rely on a two-tier operating system, that is, the central bank first converts digital RMB to commercial banks or other issuing agencies, and then the digital currency will be issued to the public.