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.
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