DigitalMoneyBox Signal Desk
DigitalMoneyBox Crypto market intelligence
Cryptocurrency Bitcoin News

Despite $250 Billion Worth of Transactions, Digital Yuan Users Prefer Physical Cash

Some participants of China’s Central Bank Digital Currency (CBDC) pilot program, specifically state workers paid in digital yuan (e-CNY), are quickly converting their digital currency to physical cash due to concerns ove...

Despite $250 Billion Worth of Transactions, Digital Yuan Users Prefer Physical Cash
Some participants of China’s Central Bank Digital Currency (CBDC) pilot program, specifically state workers paid in digital yuan (e-CNY), are quickly converting their digital currency to physical cash due to concerns over its utility and lack of incentives like interest on savings. Despite China’s advancement towards becoming a cashless society, the digital yuan faces skepticism […]

Original source

Read on Bitcoin News

Related market context