Thursday, 6 October 2022

Digital RMB users surge to 140 million

5 min read

3 November 2021 – China has increased the number of individuals with digital RMB accounts to 140 million, with 10 million corporate accounts created, according to Mu Changchun, head of the PBOC’s Digital Currency Institute, during the Hong Kong Fintech Week conference. This is a significant increase from the 24 million individual and enterprise users recorded in June. Transactions reached RMB 62 billion ($9.7 billion) in trials rolled out in about a dozen regions, compared with RMB 34.5 billion ($5.4 billion) in June. Mu reiterated that these e-wallets would collect less transaction information than traditional digital payment services. The PBOC would not provide the information to any third-party or other government agencies unless stipulated by the law.

News source: Bloomberg

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