China expands digital yuan operator network
China has added eight banks to its digital yuan network, bringing the total number of authorized e-CNY operating institutions to 30.
The People’s Bank of China (PBOC) added Ping An Bank, Hengfeng Bank, China Bohai Bank, Bank of Shanghai, Bank of Hangzhou, Huishang Bank, Bank of Changsha and Guangxi Beibu Gulf Bank to the network.
The expansion was reported by Xinhua and published on the Chinese government’s official website. The newly authorized banks will connect to the PBOC’s digital yuan infrastructure and begin offering e-CNY services after completing the necessary operational and technical preparations.
China Government: Digital Yuan Operator Expansion
Eight new banks broaden e-CNY access
The latest additions significantly expand the number of institutions directly involved in operating China’s central bank digital currency.
Before the recent expansion, only 10 banks had been authorized as e-CNY operators. Industrial Bank was the most recent addition before 2026, joining the network in 2022.
China added another 12 institutions in April, including several city commercial banks. The latest eight additions bring the total operator count to 30.
The growing network could allow the digital yuan to reach a broader range of customers through banks with stronger regional footprints.
Regional businesses could benefit from wider access
Dong Ximiao, chief researcher at Merchants Union Consumer Finance, said the additional operators could help address gaps in financial services for regional small and medium-sized businesses.
The expansion could also support digital yuan use in cross-border trade, although the newly authorized banks must first complete the required technical and operational preparations.
Increasing the number of operators also gives users more banking channels through which they may eventually access e-CNY services.
The PBOC has indicated that it intends to continue expanding the operator network, with greater competition and wider accessibility among the objectives.
China has spent more than a decade developing e-CNY
China’s digital currency project has been under development for more than a decade.
The PBOC began researching digital currency in 2014, before launching its first major digital yuan pilot programs in late 2019.
Since then, the e-CNY has expanded beyond limited testing into areas including merchant payments, public utilities and government services.
The digital yuan differs from decentralized cryptocurrencies such as Bitcoin because it is issued and controlled by China's central bank. The system is designed as a sovereign digital currency operating within the country's regulated financial infrastructure.
Digital yuan expansion continues as CBDC adoption grows
The addition of eight more banks highlights China's continued push to expand the infrastructure supporting its central bank digital currency.
Rather than relying on a small group of institutions, the PBOC is gradually building a broader network of banks capable of providing e-CNY services.
For regional financial institutions, participation could create new opportunities to serve local businesses and consumers while supporting China's broader digital-payment infrastructure.
The expansion also reflects the wider global interest in central bank digital currencies, with governments and central banks continuing to explore how digital versions of national currencies can be integrated into existing financial systems.
What happens next for China's digital yuan?
The eight newly authorized banks must complete their operational and technical preparations before beginning to provide e-CNY services.
The PBOC has said it will continue expanding the operator network, meaning the number of institutions supporting China's digital yuan could rise further.
With 30 operating institutions now part of the network, China is moving toward a broader and more competitive digital yuan ecosystem, potentially strengthening the role of e-CNY in domestic payments, regional financial services and future cross-border applications.
