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How the digital renminbi is to become a world currency

China has taken important steps in implementing its digital central bank currency: the e-CNY. Around ¥200 million are already in circulation, the equivalent of around $30 million. This makes China the first major economy to conduct comprehensive tests of an e-currency (as reported by China.Table). The US consulting firm PWC has found that only the Bahamas and Cambodia are further along. They have already gone through the testing phase. Internationally, however, the two states hardly play a role.

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