Written by Ezra Reguerrastaff writerReviewed by Yohan Yunstaff editor

Written by Ezra Reguerrastaff writer

Reviewed by Yohan Yunstaff editor

China adds 8 banks to digital yuan network as operator count hits 30

Latest NewsPublishedAug 18, 2026

The newly authorized lenders will begin offering e-CNY services after completing operational and technical preparations.

China’s central bank has added eight banks to its digital yuan network, bringing the number of e-CNY operating institutions to 30. 

The People’s Bank of China (PBOC) added Ping An Bank, Hengfeng Bank, China Bohai Bank, Bank of Shanghai, Bank of Hangzhou, Huishang Bank, Bank of Changsha and Guangxi Beibu Gulf Bank, as reported by a Xinhua report published Monday on the government’s website.

The banks will be connected to the PBOC’s digital yuan system and begin offering services after completing operational and technical preparations. 

The expansion follows the addition of 12 institutions in April, when city commercial banks joined the operator list. Before this year’s additions, only 10 banks were authorized operators, with Industrial Bank the last to join in 2022. 

Dong Ximiao, chief researcher at Merchants Union Consumer Finance, stated new operators could fill gaps in services for regional small and medium-sized enterprises and cross-border trade.

The PBOC began researching a digital currency in 2014 and introduced pilots in late 2019. China has since expanded the e-CNY into merchant payments, public utilities and government services. The central bank stated it would continue expanding the operator network to promote competition and broaden access. 

Related: Chinese newspaper warns of Bitcoin extortion scam using its name

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

• China
• Asia
• Central Bank
• Yuan
• Peoples Bank of China
• Altcoins

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