Platforms Required to Offer Digital Yuan Retail Payment Option – Cointelegraph

The digital yuan, China’s central bank digital currency (CBDC), is receiving upgrades in its technology and business model. Changchun Mu, the director of the Digital Currency Research Institute at the People’s Bank of China, emphasized the importance of wallet providers enabling payment options across all retail scenarios during his speech on September 3.

Speaking at the annual China International Service Trade Fair, Mu highlighted that the digital yuan has experienced significant enhancements in its “organizational forms” and business model. He noted that it is now essential for payment tools to undergo similar upgrades.