China’s central bank has announced the addition of 12 new institutions to its digital yuan operating network, bringing the total number of authorized operators to 22 following the latest expansion.
The newly added institutions include China CITIC Bank, China Everbright Bank, Hua Xia Bank, China Minsheng Bank, Guangfa Bank, Shanghai Pudong Development Bank, Zheshang Bank, Bank of Ningbo, Bank of Jiangsu, Bank of Beijing, Bank of Nanjing, and Bank of Suzhou. These institutions will begin offering digital yuan services once they have completed the necessary business and technical preparations.
The expansion is closely tied to China’s broader push to promote its digital yuan pilot program, which was launched in late 2019. The pilot has since grown to cover Beijing and numerous other major cities across the country.
The People’s Bank of China stated that it will continue to expand the roster of operating institutions in an orderly manner, guided by principles of market orientation and the rule of law. The central bank emphasized its intention to further stimulate the enthusiasm and creativity of market participants, while fostering an open, inclusive, and fair competitive environment for the development of the digital yuan.
In a related international development, Russian Central Bank Governor Nabiullina noted that Russia’s digital ruble platform is technically prepared to connect with the systems of other countries, signaling potential cross-border interoperability between the two nations’ central bank digital currencies in the future.
Source: Sputnik News, April 3, 2026
https://sputniknews.cn/20260403/1070591389.html