China Adds 8 Banks to Digital Yuan Network, Total Hits 30

China's central bank has expanded its digital yuan network by authorizing eight new commercial banks to operate the eCNY, bringing the total number of authorized operators to 30. The People's Bank of China announced the addition on August 17, 2026, identifying the new institutions as Ping An Bank, Hengfeng Bank, China Bohai Bank, Bank of Shanghai, Bank of Hangzhou, Huishang Bank, Bank of Changsha, and Guangxi Beibu Gulf Bank. These banks have been connected to the central bank's digital renminbi system and will begin offering services to customers after completing necessary operational and technical preparations.

The move marks the second major expansion of the operator network in 2026. In April, the PBOC added 12 banks, including China CITIC Bank and China Everbright Bank, which increased the number of authorized operators from 10 to 22. Prior to this year's additions, the network had remained unchanged since Industrial Bank joined in 2022. The rapid scaling aligns with China's 15th Five-Year Plan for 2026-2030, which lists the steady development of the digital renminbi as a core task. The central bank stated the expansion is intended to improve public access to secure and...