China's digital yuan to bear interest

Holdings of China’s digital yuan, or e-CNY, will start generating interest income next year under a new framework, state broadcaster CCTV said on Monday, as China steps up efforts to promote the use of its central bank digital currency.

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Starting I January, e-CNY stored in wallets will earn interest based on demand deposit rates, becoming the world’s first interest-bearing central bank digital currency, according to CCTV. It means e-CNY is advancing into an era of “digital