“PBOC is trying to create a digital currency that competes with these payment providers, for the use case for a CBDC I think, it’s actually pretty weak in China.” When a comparable volume for the digital yuan was achieved in 18 months. It is also noteworthy that Alibaba is a huge platform that attracted a sales figure close to $85 billion in just around 11 days. And also to make sure that the payment space is not dominated by two payment providers.”Īs per a recent WSJ report, e-CNY is not offered on platforms by e-commerce giant Alibaba.
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