The People's Bank of China plans to add approximately 12 more commercial banks to the digital yuan system.

PANews reported on March 19th, citing Caixin, that the number of institutions operating China's digital yuan will be further expanded. The People's Bank of China (PBOC) plans to add approximately 12 commercial banks to the digital yuan system, undertaking functions such as wallet opening, exchange, and payment processing, as well as daily operation and maintenance. Previously, 10 banks, including the six major state-owned banks, had already participated. The digital yuan adopts a "centralized PBOC + commercial bank two-tier operation" architecture. The PBOC is responsible for issuance, top-level design, and system supervision, while designated operating institutions are responsible for front-end services and compliance obligations such as anti-money laundering and customer identification. As the digital yuan upgrades from "digital cash" to "digital deposit currency," the enthusiasm of commercial banks to participate is expected to increase, and the application scenarios and covered institutions of the digital yuan are expected to expand simultaneously.