Beijing has developed a framework called the Digital Currency Electronic Payment (DCEP) which would allow its central bank to issue a digital currency to commercial banks and third-party payment networks by Alipay and WeChat Pay.
That’s according to Jack Lee, managing partner of HCM Capital, who told CNBC: “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.”
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