China triples its e-CNY network in 2026 as the PBOC adds 20 operators, including eight banks joining the CBDC push this week

China's digital yuan network now counts 30 participating banks, up from 10 at the start of the year, after the PBOC added eight lenders including Ping An Bank, Hengfeng Bank, Bank of Shanghai, and Bank of Hangzhou this week. These banks are connected but will offer services only after operational and technical preparations. The move follows an April expansion that added 12 institutions. Operators handle wallets, exchanges, payments, and AML checks, while the central bank runs the core system. Since a January overhaul, e-CNY in bank wallets became deposit liabilities with interest and insurance. Transactions through November 2025 totaled 3.48 billion, worth about 16.7 trillion yuan.

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