China's digital yuan users are expanding at a faster rate than transaction volume in the digital currency, CNBC reports. The digital yuan makes little headway as cumulative transactions in the currency reach 87.57B yuan ($13.68B) since the People's Bank of China started conducting trials of the currency in the last two years, PBOC Director of Financial Markets Zou Lan told CNBC. This figure accounts for a small percentage of China's consumer payments that are measured in the trillions. Note that Ant Group's (NYSE:BABA) monthly payment volume averaged 10T yuan in 2020, CNBC highlights. Meanwhile, the number of individual digital yuan users rise to 261M as of the end of last year, up from 240.13M from the end of June, CNBC reports, citing the PBOC. Recall China-based Tencent Holdings (OTCPK:TCEHY) (OTCPK:TCTZF) recently added digital yuan support to its mobile wallet WeChat Pay.
