Key facts
- Lu Yuan, deputy head of the PBOC's digital currency research institute, said 30 domestic banks operate as e-CNY operators.
- Lu said the institute is working to extend e-CNY capability to offshore banks, including Hong Kong branches.
- Banks are exploring local e-CNY wallets for foreign firms to deepen cross-border integration, according to the report.
The People's Bank of China is expanding its central bank-backed digital currency network to offshore institutions, including Hong Kong branches, while banks are also exploring local e-CNY wallets for foreign firms to deepen cross-border integration, according to a report published November 5, 2026.
"We currently have 30 domestic banks as e-CNY operators. Right now we're working to extend this capability to offshore banks," Lu Yuan, deputy head of the People's Bank of China's digital currency research institute, said on a panel at Hong Kong's Fintech Week.
The report did not name the offshore banks involved or give a timetable for the expansion. It also did not specify which foreign firms the local e-CNY wallets are being explored for.