Two Private Banks are Expected to Participate in the Digital RMB Pilot

[ChainDD report] February 20 (ChainDD) According to the China Securities Journal, China Merchants Bank and WeBank may join the ranks of Digital RMB pilot banks. The two institutions are currently conducting preliminary work under the guidance of the People's Bank of China.

Although perceived as competitive, third-party payment institutions and fintech companies are also involved in developing digital RMB solutions and scenarios.

At present, third-party payment enterprises mainly participate in the expansion of digital RMB application scenarios. For example, Jingdong, Meituan and Lakala have opened digital RMB offline payment scenarios.

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