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More banks will continue to participate in the test of the DC/EP, in a bid to improve the technology, security and stability of the payment tool, Chen Bo, director of the Finance Research Centre at the Institute of Finance and Economics at the Central University of Finance and Economics told the daily.
The Agricultural Bank of China, one of the country”s big four state-owned banks, has tested the DC/EP (digital currency/electronic payment) in four cities in an app launched last Wednesday.
“There will be two types of players in future trials, the banks and telecom companies. At present, the central bank is testing the software of DC/EP, and whether it will be combined with 5G and sim cards in the future needs to be discussed,” Chen said.
From China begins testing of digital currency:
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