China’s central bank has expanded the operating network for the digital yuan by approving eight additional commercial banks to provide e-CNY services. The move lifts the number of authorized operators from 22 to 30 as Beijing continues to widen access to its state-backed digital currency.
The newly added institutions have already connected to the People’s Bank of China’s digital renminbi system on the central bank side. Their customer-facing services will begin after remaining business and technical preparations are completed.
Eight banks added to the e-CNY system
The new entrants are Ping An Bank, Hengfeng Bank, China Bohai Bank, Bank of Shanghai, Bank of Hangzhou, Huishang Bank, Bank of Changsha, and Guangxi Beibu Gulf Bank.
According to the central bank, these lenders have been approved to operate digital yuan services and have completed the connection to the PBOC-side digital renminbi system. Full rollout to customers is still pending the completion of final operational and technical work.
Operator count rises from 22 to 30
With the latest approvals, China’s digital yuan operating network now includes 30 service operators, up from 22 previously. The increase marks another step in the gradual expansion of the e-CNY framework through a broader mix of participating financial institutions.
The PBOC said it plans to continue introducing more institutions into the system. It said the process will follow market-oriented and rule-based principles, with the stated goal of supporting an open and fair competitive environment for digital renminbi services.
Expansion aligns with five-year planning
The latest additions come as China sets out its digital renminbi plans under the 15th Five-Year Plan covering 2026 to 2030. In that framework, authorities aim to improve access to e-CNY services.
The plan also frames the digital yuan as a way to offer secure and convenient payment options. The inclusion of more banks in the operating network fits with that broader effort to extend availability of the system through established banking channels.
What happens next
The immediate next step is the completion of the remaining business and technical preparations by the eight newly approved banks. Only after that stage is finished will customer-facing digital yuan services go live at those institutions.
Beyond this round of additions, the central bank has signaled that further expansion remains on the table as it continues to build out the digital renminbi network under its stated operating principles.
Source: crypto.news