The central bank plans to add about 12 commercial banks to the digital renminbi system

According to Caixin, China's digital yuan operating organization will further expand, with the central bank planning to add about 12 commercial banks to the digital yuan system, which will undertake functions such as wallet opening, exchange, and payment processing, and will be responsible for daily operations and maintenance.

Previously, 10 banks, including the six major state-owned banks, had already participated. The digital yuan adopts a "central bank centralized + commercial bank dual-layer operation" structure, where the People's Bank is responsible for issuance, top-level design, and system supervision, while designated operating institutions are responsible for front-end services and compliance obligations such as anti-money laundering and customer identification. As the digital yuan upgrades from "digital cash" to "digital deposit currency," the enthusiasm of commercial banks to participate is expected to increase, and the application scenarios and coverage of the digital yuan are expected to expand simultaneously.

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