China’s central bank governor Yi Gang has said that the nation’s digital yuan pilot projects have processed transactions worth over $299 million without any major problems. This suggests that China is much ahead of its competitors in developing and studying the central bank digital currency (CBDC).
However, the European Central Bank does not want to be left behind. European Central Bank President Christine Lagarde has invited comments from the public on whether they “would be happy to use a digital Euro just in the way they use a Euro coin or a Euro banknote.”
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