China to start paying interest on digital yuan holdings from January – report

China plans to start paying interest on digital yuan holdings to help speed up adoption of its central bank digital currency, with interest payments scheduled to begin in January. Citing an article written by People’s Bank of China’s (PBOC) deputy governor Lu Lei on Financial News, a newspaper affiliated with the central bank, Bloomberg reported that commercial banks that operate digital yuan wallets will pay customers interest based on their E-CNY balances. This move represents a milestone in the devel ...