Cumulative e-CNY transactions only crossed $14 billion in two years

According to a former official of the People’s Bank of China (PBOC), the nation’s central bank, on Wednesday, the digital currency (CBDC), known as e-CNY, is not widely used in China, financial news source Caixin reported on December 28.

Only 261 million users have created an e-CNY wallet, according to a January PBOC report, despite the government’s quick extension of the trials and additional wallet features in an effort to lure consumers.