China Expands Digital RMB Operators to 30 Banks
The People’s Bank of China (PBOC) has added eight new banks as digital RMB (e-CNY) business operating institutions, bringing the total to 30 and marking the second expansion of China’s central bank digital currency program within 2026. The announcement, made on August 17, adds Ping An Bank, Evergrowing Bank, Bohai Bank, Bank of Shanghai, Bank of Hangzhou, Huishang Bank, Bank of Changsha, and Guangxi Beibu Gulf Bank to the operating institution system, according to CLS.
Second Expansion in 2026
The latest expansion follows an earlier round in April 2026, when the PBOC added 12 institutions—seven joint-stock banks and five city commercial banks—bringing the total from 10 to 22. With the August additions, the operating institution count has now reached 30, as reported by Yicai.
The PBOC stated that the expansion implements the “15th Five-Year Plan” outline’s directive to “steadily develop digital RMB,” further enhance the inclusiveness of digital RMB services, and respond to public demand for safe, convenient, and efficient digital RMB services.
All National Banks Now Covered
A significant milestone of this expansion is that all 12 joint-stock commercial banks are now included in the operating institution system, alongside all six state-owned large banks. The inclusion of Ping An Bank, Evergrowing Bank, and Bohai Bank completes the coverage of national-level banks, according to Securities Times.
Equally notable is the first-time inclusion of city commercial banks from central and western China. Bank of Changsha and Guangxi Beibu Gulf Bank represent a geographic expansion of the digital RMB ecosystem beyond the eastern coastal regions where most participating banks are headquartered.
“The comprehensive inclusion of national banks also means the digital RMB operating system has entered a more mature stage,” a securities bank analyst in South China told CLS. The analyst added that as more banks connect to the PBOC’s digital RMB system, future competition in the digital RMB application ecosystem will focus more on scenario construction and service capability improvement.
Regional Banks Extend Reach
The expansion also signals a deliberate strategy to deepen digital RMB penetration at the regional level. An East China city commercial bank insider noted to CLS that digital RMB ecosystem construction is gradually extending from early participation by large banks to more regional banks, which hold advantages in local customer bases, scenario resources, and industrial services.
Wang Pengbo, chief analyst at Botong Consulting, told Yicai that the expansion can fully mobilize the enthusiasm of various commercial banks to participate in digital RMB business. Joint-stock banks and leading city commercial banks hold local customer resources and offline scenario advantages, which is conducive to further sinking digital RMB into local markets and broadening online and offline implementation scenarios.
“More institutions entering will foster a fairer market competition environment, forcing institutions to refine their products and service capabilities,” Wang said. “In the long run, this can promote the continuous transition of digital RMB from the pilot stage toward normalized, large-scale application.”
Digital RMB 2.0 and Growing Adoption
The expansion comes amid a transformative year for China’s CBDC program. On January 1, 2026, the new-generation digital RMB measurement framework took effect, transitioning the currency from “digital cash 1.0” to “digital deposit currency 2.0.” Digital RMB wallet balances now accrue interest at demand deposit rates, making China the first economy to pay interest on its central bank digital currency, as IT之家 reported.
Adoption metrics underscore the program’s momentum. As of November 2025, digital RMB had processed 3.48 billion transactions totaling 16.7 trillion yuan, with 230 million personal wallets and 18.84 million corporate wallets opened, according to data cited by Securities Times. Pilot coverage has expanded to 17 provinces and 26 regions.
Cross-Border Expansion
The digital RMB program has also made significant strides internationally. The Digital RMB International Operations Center in Shanghai officially began operations in September 2025, launching three business platforms including cross-border digital payment services, as IT之家 reported. In June 2026, 26 direct participants signed agreements to access the “ShuBiDa” (CBETS) cross-border settlement platform, enabling 7×24 hour cross-border digital RMB payment services, with Standard Chartered China becoming the first foreign bank to join as a direct participant, according to Southern Metropolis Daily.
Just two days before the operating institution expansion, China Construction Bank completed the nation’s first goods trade digital RMB cross-border payment via the ShuBiDa platform—a 200 million yuan transaction for Sinochem International’s bulk raw material procurement in ASEAN.
What’s Next
The PBOC has stated it will continue to promote the orderly expansion of operating institutions following market-based and rule-of-law principles, aiming to build an open, inclusive, and fair competitive environment for digital RMB development. As the operating institution network broadens and cross-border capabilities deepen, the digital RMB program appears positioned for continued institutionalization and scale.
Industry analysts note that challenges remain, including cultivating user habits and achieving cross-border interoperability. However, as one analyst told Securities Times, the practice of scenario innovation has proven that combining the authority of legal tender with the flexibility of scenario needs can unlock the maximum value of digital RMB. The path from pilot program to normalized, large-scale application appears increasingly well-defined.