China's central bank adds 20 operators including eight banks to its e-CNY CBDC network in 2026, tripling the program's scale.
DeFi & Yields ·
China's central bank has expanded its e-CNY digital currency network by adding 20 operators this year, eight of which are banks. The expansion represents a tripling of the program's operational scale compared to its prior size.
The e-CNY, issued directly by the People's Bank of China, functions as a programmable digital version of the nation's legal tender. Unlike stablecoins—which are private liabilities backed by reserve assets—a CBDC is a sovereign liability of the central bank itself, giving the issuer direct control over the currency's settlement and circulation. China has been advancing this infrastructure as stablecoins and tokenized finance have moved into regulated financial systems globally.
The timing reflects broader divergence in CBDC policy across major economies. While China accelerates its retail digital currency rollout, other jurisdictions remain in earlier stages or have taken restrictive stances. The operational mechanics and full scope of how these 20 new participants will integrate into the existing network remain undisclosed.