China's PBOC plans a national clearinghouse for digital yuan transactions, modeled after UnionPay, as e-CNY volumes hit $2.47 trillion and adoption accelerates.

In a series of measures, many revealed here for the first time, the People's Bank of China (PBOC) is giving banks policy incentives and behind-the-scenes directives to expand the…

China's PBOC plans a national clearinghouse for digital yuan transactions, modeled after UnionPay, as e-CNY volumes hit $2.47 trillion and adoption accelerates.