China is the first country to develop a digital currency available in the mobile payment system. The website yuan pay coin will help traders to understand more about trading.
CBDCs are designed with two purposes: to simplify and broaden access to financial services and improve security against risks of financial crime and terrorism.
Digital Yuan can have multiple benefits for both countries and citizens: reducing costs for governments when issuing money; making payments easier; increasing transparency to facilitate regulation of private banks; speeding up settlements between banks; enhancing anti-money laundering controls when transferring funds from one account to another, and so on. [Read more…] about Why China launched the digital yuan in the first place