The former governor of the central People’s Bank of China (PBoC) has reiterated claims that the forthcoming digital yuan has been designed primarily for retail use by domestic and even international users – not for cross-border trade purposes. China has loosely pegged the value of its yuan fiat to the USD for years, and the greenback is still the hard currency equivalent of a lingua franca for most of its cross-border trade deals. ...Read More: Ex-Chinese Central Bank Chief Says Digital Yuan Not Intended for International Trade
