Banking Giant BNP Paribas to Launch China CBDC Wallet Platform

The Chinese arm of the French banking titan BNP Paribas announced it will launch a digital yuan wallet management platform, in another boost for China’s central bank digital currency (CBDC). Per Shanghai Securities Net, BNP Paribas China will be teaming up with the state-owned commercial bank, the Bank of China, for the project. The French bank will launch a platform that links with the Bank of China’s own digital yuan ecosystem. BNP Paribas China added that it and the state-owned bank would “jointly explore” a range of other digital yuan-related business avenues.

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