PBoC developing interoperable QR codes for digital yuan
Digital yuan to be available in all retail scenarios and in wholesale securities markets
The People’s Bank of China (PBoC) is working on rolling out unified QR code standards that would enable payments using its central bank digital currency (CBDC), the digital yuan.
Under the plans, people would be able to pay using e-yuan through providers such as Alipay, WeChat Pay and UnionPay QuickPass, which are already widely used. Some reports suggest uptake of the digital yuan has been low so far.
Mu Changchun, the head of the central bank’s Digital Currency Research Institute, said on
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