Digital yuan to launch in 2-3 months, HCM Capital predicts
Posted On March 23, 2021
How to Buy, Use, and Trade China’s Digital Yuan? 2020-21
Jack Lee, founder and managing partner of investment company HCM Capital, said the digital yuan is ready and could be launched in the next 2-3 months..
In his interview, he also suggested that the central bank would use digital currency to tighten controls over capital flows. Using blockchain capabilities instead of monitoring banknote serial numbers will increase efficiency and simplify this process..
According to Jack Lee, China has developed a hybrid system in which digital currency transactions will be made through the existing payment and banking infrastructure..
The Central Bank has not yet set an official launch date, but in September the new head of the blockchain division of the People’s Bank of China disclosed some technical features of the digital yuan.