The Digital Currency Research Institute of the People''s Bank of China (PBC), China''s central bank, said that the research and development work of China's official digital currency, dubbed as DC/EP, is proceeding steadily, and the internal pilot tests are carried out in four cities and will be carried out in scenarios of the 2022 Winter Olympics Games in Beijing. The Agricultural Bank of China, one of the country's big four state-owned banks, has tested the DC/EP (digital currency/electronic payment) in four cities in an app launched.
China begins testing of digital currency
Source: China begins testing of digital currency
