China, the country that invented paper money in the 7th century, has successfully launched the first digital currency issued by a major global economy. Known as the Digital Yuan, this sovereign currency aims to replace physical bills and coins and facilitate international trade and investment.
This potential is precisely what has sparked global interest in the new Chinese digital currency. The Digital Yuan can already be purchased through a select number of government-approved platforms, such as the Yuan Pay Group – Official Site. These exclusive trading platforms offer international customers a secure way to buy, sell, and manage the Digital Yuan under Chinese government regulations, while any currency acquired outside these channels is considered illegal.
What Is the Digital Yuan?
The Digital Yuan is China’s public digital currency. Unlike cryptocurrencies, it is backed by the People’s Bank of China, making it immune to the volatility and speculation typically associated with digital coins.
This, combined with China’s growing economic power and its leading role in the transition toward a digital currency system, positions the Digital Yuan as a forward-looking currency and a strong candidate to challenge the U.S. dollar’s dominance in global commerce.
How Much Is the Digital Yuan Worth?
Because it is issued and supported by the Chinese government, the Digital Yuan holds the same value as the physical yuan. Its exchange rate matches that of the traditional fiat currency.
To find out the current value of the Digital Yuan, simply check the daily exchange rate of the Chinese Yuan, which typically moves within stable margins.
Cryptocurrencies, on the other hand, are highly volatile and their value is influenced by public sentiment, market trends, and cryptocurrency news.
How Does the Digital Yuan Work?
China has been working on the implementation of the Digital Yuan for over a decade. Today, it can be used to pay for goods, services, and taxes.
All deposits made in this new digital currency are guaranteed by the People’s Bank of China, which not only speeds up transaction processing but also enhances security.
In fact, the medium-term goal is for the Digital Yuan to be accepted everywhere, both online and offline. Since this summer, China’s two main banks already allow customers to convert between physical and digital yuan using ATMs.
How to Buy the Digital Yuan?
The only authorized issuer and seller of the Digital Yuan is the People’s Bank of China. It has certified a few international trading platforms as exclusive sales partners, allowing them to buy and sell Digital Yuan within China on behalf of global customers.
