BEIJING: China’s central bank has added 12 banks to the roster of institutions authorized to operate the digital yuan, widening the reach of the e-CNY and lifting the total number of approved operators to 22. The People’s Bank of China said the newly admitted institutions will connect to the central bank’s digital yuan system and begin offering services after completing business and technical preparations, marking one of the biggest expansions of the country’s central bank digital currency network since the pilot program began.
The 12 newly added banks are China CITIC Bank, China Everbright Bank, Huaxia Bank, China Minsheng Bank, China Guangfa Bank, Shanghai Pudong Development Bank, China Zheshang Bank, Bank of Ningbo, Bank of Jiangsu, Bank of Beijing, Bank of Nanjing and Bank of Suzhou. The central bank said the expansion is intended to improve the inclusiveness of digital yuan services and respond to demand for payment options that are safe, convenient and efficient.
Before the expansion, the digital yuan had 10 authorized operators, comprising six large state-owned commercial banks, two joint-stock banks and two internet banks. Those institutions included Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, Bank of Communications, Postal Savings Bank of China, China Merchants Bank, Industrial Bank, MYbank and WeBank. The enlarged lineup broadens the range of banks that can distribute, manage and support the use of digital yuan wallets and related payment services.
Broader Banking Network
The move comes after China introduced an upgraded digital yuan management framework that took effect on Jan. 1, 2026. Under that framework, balances held in digital yuan wallets at authorized commercial banks are treated as bank deposit liabilities, carry interest in line with deposit rate rules and are covered by deposit insurance. The central bank also folded digital yuan operations into its reserve requirement framework, adding a new layer of integration between the e-CNY system and the formal banking structure.
Official data showed that by the end of November 2025, China had recorded 3.48 billion cumulative digital yuan transactions worth 16.7 trillion yuan. Authorities have said the currency has been used across retail payments, dining, tourism, education, healthcare, public services and selected cross-border settlement settings. The latest operator expansion adds more lenders to the network that underpins those transactions and extends the number of banks able to provide digital yuan services directly to individual and corporate users.
Next Phase of Rollout
The expansion also deepens participation by city commercial banks and national joint-stock lenders, bringing the digital yuan network beyond its earlier concentration among the largest state-owned banks and internet platforms. By adding institutions with strong regional footprints in cities such as Beijing, Nanjing, Suzhou and Ningbo, the central bank is widening the operational base of the e-CNY within the existing banking system while keeping distribution under the established two-tier structure of central bank issuance and commercial bank service delivery.
China has been testing the digital yuan since the end of 2019, and the latest addition of 12 operators represents a major enlargement of the banking channels available for the project. The central bank said the newly approved institutions will launch digital yuan business once operational and technical work is completed, adding to a network that now spans 22 authorized operators across state-owned banks, joint-stock lenders, internet banks and regional commercial banks. – By Content Syndication Services.