China may launch digital currency in 2-3 months

They already have a system and network ready.

CNBC reports that China could start rolling out its digital currency as early as the next two to three months, according to an investment firm backed by Taiwanese multinational electronics firm Foxconn Technology Group.

HCM Capital’s managing partner Jack Lee noted that China already has a system and network ready for the project.

“So, they already have all the system and the network ready. I think you will see it very soon, in the next maybe two to three months,” Lee told CNBC during the Singapore FinTech Festival.

China’s central bank has revealed little information about the Digital Currency Electronic Payment (DCEP) project, which has been in development for the past five years. DCEP will reportedly vbeThat would allow its central bank to issue a digital currency to commercial banks and third-party payment networks by Alipay and WeChat Pay, he explained.

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