Mu Changchun, the Director-General of the Institute of Digital Currency of China’s central bank, People’s Bank of China spoke at one of the panels at the Singapore Fintech Festival held at the Singapore Expo on Nov. 12 regarding the future of digital currencies.
In Part 2 of the interview, Garcia-Herrero explained the disruption of China’s CBDC – digital currency electronic payment (DCEP) on China’s monetary system. She also commented on the basket of currencies that Facebook’s Libra supports and Libra’s potential threat to monetary sovereignty.
The Chinese central bank, People’s Bank of China’s (PBoC) Digital Currency Research Institute has signed an agreement with multinational telecommunications giant Huawei.
China has been reportedly developing its central bank-issued digital currency for a while and is believed to be ready to launch by China’s central bank, People’s Bank of China (PBoC).