May 25, 2024

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Despite $250 Billion Worth of Transactions, Digital Yuan Users Prefer Physical Cash

1 min read
Despite 0 Billion Worth of Transactions, Digital Yuan Users Prefer Physical Cash
Despite 0 Billion Worth of Transactions, Digital Yuan Users Prefer Physical CashSome participants of China’s Central Bank Digital Currency (CBDC) pilot program, specifically state workers paid in digital yuan (e-CNY), are quickly converting their digital currency to physical cash due to concerns over its utility and lack of incentives like interest on savings. Despite China’s advancement towards becoming a cashless society, the digital yuan faces skepticism […]