Central Bank Of China To Issue Its Crypto To 7 institutions

One of the former employee People’s Bank of China (the central bank of the China), Paul Schulte has predicted that it will launch a state-backed cryptocurrency and issue it to seven institutions. They are namely the Industrial and Commercial Bank of China, the Bank of China, the Agricultural Bank of China; Alibaba and Tencent; and Union Pay, an association of Chinese banks, will receive the cryptocurrency. He also added that these institutions will be responsible for dispersing the cryptocurrency to citizens.

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