Coco Feng: China leads dash for first sovereign digital currency

4/01/2021 - 08:29

"China tested its sovereign digital currency, the Digital Currency Electronic Payment (DCEP), in four cities in 2020 – Suzhou, Xiongan, Shenzhen and Chengdu, as well as at sites for the 2022 Beijing Winter Olympics...Zou Chuanwei, chief economist at Chinese fintech firm Wanxiang Blockchain, said at a November event that if DCEP is used at the 2022 Winter Olympics it will serve some foreign users, heralding “the first step for DCEP to globalise”."