CoinDesk
The People's Bank of China added eight lenders this week, taking the digital yuan's participating-bank roster to 30 from 10 at the start of 2026. Ping An Bank, Hengfeng Bank, Bank of Shanghai and Bank of Hangzhou are among the new operators. They have connected to the central e-CNY system but will begin customer services only after operational and technical preparations are complete. The PBOC added 12 institutions in April, bringing year-to-date additions to 20 across two expansion rounds.
Why it matters
Authorized banks provide the customer-facing layer of China's two-tier digital yuan system. They open personal and corporate wallets, exchange digital yuan, process payments and run anti-money-laundering checks, while the PBOC manages the core system. The expansion broadens the banking distribution network behind the CBDC.
A framework effective Jan. 1 changed the treatment of digital yuan held in commercial-bank wallets. Those balances are now deposit liabilities, banks must pay interest to users, and the balances are covered by deposit insurance.
Market impact
The immediate signal is institutional adoption of China's payment infrastructure. China processed 3.48 billion digital yuan transactions worth 16.7 trillion yuan, about $2.5 trillion, through November 2025. Once live, the new banks will widen the set of customer-facing institutions, while the PBOC says it will continue adding operators under market-oriented and rule-based principles.
For investors, the development is more relevant to bank deposits, payments competition and CBDC implementation than to a publicly traded crypto-token price. The next concrete milestones are service launches by the eight new lenders and further roster additions.
Frequently asked questions
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Which banks joined the digital yuan network in the latest expansion?
Ping An Bank, Hengfeng Bank, Bank of Shanghai and Bank of Hangzhou were among eight new operators. They are connected to the central e-CNY system but have not started customer services.
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How many institutions has the PBOC added to the digital yuan network in 2026?
The PBOC added 20 operators in two rounds: 12 in April and eight in the latest expansion. The roster rose from 10 lenders at the start of 2026 to 30.
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What role do commercial banks play in China's two-tier digital yuan system?
Authorized banks open personal and corporate wallets, exchange digital yuan, process payments and run anti-money-laundering checks. The PBOC manages the core system.
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How are digital yuan balances in commercial wallets treated under the new framework?
Since Jan. 1, those balances have been deposit liabilities. Banks must pay interest, and the balances are covered by deposit insurance.
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How large was China's digital yuan transaction activity through November 2025?
China processed 3.48 billion digital yuan transactions worth 16.7 trillion yuan, about $2.5 trillion, through November 2025.
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