- China is set to launch its digital currency by early 2020.
- The country has been developing the frameworks for its issuance to commercial banks and other payment networks.
China is readying the launch of its digital currency, as to be released by the central bank, PBOC.
Managing Partner of HCM Capital, Jack Lee, detailed that China has conducted the development of a framework, which is called Digital Currency Electronic Payment, DCEP.
The legislation put together would allow for the PBOC to start issuing digital currency to commercial banks, in addition to third-party payment networks by the likes of Alipay and WeChat Pay.
He further detailed that China’s digital currency could be launched in 2020: HCM Capital. It may start rolling out its digital currency as early as the next two to three months.
Share
