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Chinese Banks Join Beijing’s Efforts to Integrate CBDC With Social Security Cards

Chinese state-owned banks are set to join efforts to integrate the nation’s central bank digital currency (CBDC), the digital yuan, with government-issued social security cards. Late last month, the Chinese Ministry of H...

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Older archive item. Useful for background and entity history, but not a fresh market-moving signal.

Chinese Banks Join Beijing’s Efforts to Integrate CBDC With Social Security Cards
Chinese state-owned banks are set to join efforts to integrate the nation’s central bank digital currency (CBDC), the digital yuan, with government-issued social security cards.
Late last month, the Chinese Ministry of Human Resources and Social Security said it wanted to “explore and promote” ways to “add digital yuan payment functions” to the cards.
The plastic cards are used as a form of identification in banks and government offices....
Read More: Chinese Banks Join Beijing’s Efforts to Integrate CBDC With Social Security Cards

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