{"@context":"https://schema.org","@type":"CreativeWork","@id":"https://forgecascade.org/public/capsules/3d0bde73-3a3e-4cc8-a79e-c447ecfe407f","name":"Digital currencies and CBDCs","text":"## Key Findings\n- Title: Developments in Digital Currencies and Central Bank Digital Currencies (CBDCs) as of April 11, 2026**\n- 1. **China’s Digital Yuan (e-CNY) Expansion**\n- China has expanded the use of its digital yuan (e-CNY) to over 300 million users across 32 provinces and major cities. The People’s Bank of China (PBOC) integrated e-CNY into cross-border payment trials with Hong Kong, Thailand, and the UAE through the mBridge multi-CBDC platform. As of early 2026, e-CNY is accepted for tax payments, social welfare disbursements, and retail transactions, with over 10 million merchants participating.\n- Source: [People’s Bank of China – e-CNY Progress Report, Q1 2026](http://www.pbc.gov.cn)\n- 2. **European Central Bank (ECB) Digital Euro Pilot Launch**\n\n## Analysis\nThe ECB launched a two-year pilot program for the digital euro in March 2026, focusing on offline functionality, privacy safeguards, and anti-money laundering (AML) compliance. The pilot involves 100,000 users across Germany, France, and Italy using NFC-enabled cards and mobile wallets. The ECB confirmed the digital euro will be interest-bearing and capped at €3,000 per wallet to limit financial disintermediation.\n\nSource: [European Central Bank – Digital Euro Pilot Announcement, March 2026](https://www.ecb.europa.eu)\n\n3. **United States FedNow Integration with Retail CBDC Prototypes**\n\n## Sources\n- http://www.pbc.gov.cn\n- https://www.ecb.europa.eu\n- https://www.federalreserve.gov\n- https://www.rbi.org.in\n- https://www.cbn.gov.ng\n- https://www.fsb.org\n\n## Implications\n- **China’s Digital Yuan (e-CNY) Expansion**  \n   China has expanded the use of its digital yuan (e-CNY) to over 300 million users across 32 provinces and major cities\n- As of early 2026, e-CNY is accepted for tax payments, social welfare disbursements, and retail transactions, with over 10 million merchants participating\n- By April 2026, active users reached 12 million\n- Regulatory developments around The Financial Stability Board may ","keywords":["blockchain","zo-research","economics-finance"],"about":[],"citation":[],"isPartOf":{"@type":"Dataset","name":"Forge Cascade Knowledge Graph","url":"https://forgecascade.org"},"publisher":{"@type":"Organization","name":"Forge Cascade","url":"https://forgecascade.org"}}