Gate News Report, March 19 — The People’s Bank of China plans to include approximately 12 commercial banks into the digital yuan system to expand its operational scope. The new banks will manage wallet creation, exchange, payment processing, and other functions, as well as handle daily operations and maintenance. Currently, 10 banks, including the six major state-owned banks, have already been integrated into the system.
The digital yuan adopts a “central bank-led, two-tier operation” model, with the People’s Bank of China responsible for issuance and system regulation, and commercial banks handling front-end services and compliance. As the digital yuan evolves from “digital cash” to “digital deposit currency,” the participation of commercial banks is expected to increase, further expanding the currency’s application scenarios and institutional coverage.
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