Digital Bulletin | Ant-backed MYbank and Tencent-backed WeBank to join China's digital yuan pilot

February 22 - 12:02

13D

Ant-backed MYbank and Tencent-backed WeBank to join China's digital yuan pilot
China's digital yuan project has found its first two privately-owned participants. Ant-backed online bank MYbank and Tencent-backed WeBank have announced they will join the pilot, which aims to roll out an electronic currency system for mass use. Until now, only state-owned banks had taken part in the project. So far, over $309.30 million has been spent using China’s new digital currency.

> Sources

Bloomberg - China Enlists Ant-backed MYbank in Expanding Digital Yuan Trial

Source Captured: 22/02/2021 12:00:52, 0 Views

Reuters - Ant-backed MYbank joins China's digital yuan pilot

Source Captured: 22/02/2021 12:00:52, 0 Views

Technode - Tencent, Ant Group banks to take part in digital yuan trials: report

Source Captured: 22/02/2021 12:00:52, 0 Views

> Tweets

China to enlist Ant-backed MYbank and Tencent-backed WeBank to expand digital yuan trial https://t.co/ZtHwLjrW4a
— Bloomberg (@business) February 22, 2021

Tencentâ€™s WeBank and Ant Groupâ€™s MyBank are reportedly preparing to be the first two privately owned banks to participate in #digitalyuan trials, @egreechee reports. #fintech #AntGroup #Tencent https://t.co/65vdUcJzdW
— TechNode (@technodechina) February 22, 2021

Ant-backed MYbank joins China's digital yuan pilot https://t.co/flEuiDF2kO pic.twitter.com/cTVio9PzTJ
— Reuters (@Reuters) February 22, 2021

China to enlist Ant-backed MYbank and Tencent-backed WeBank to expand digital yuan trial https://t.co/YKMfDa68qX
— Lulu Yilun Chen (@luluyilun) February 22, 2021