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China Blockchain Platform To Launch Digital RMB Testing This Year



China’s National Blockchain Platform (Blockchain Service Network, BSN) plans to launch a beta test of its central bank digital currency (CBDC) in the second half of 2021. BSN is developing a “Universal Digital Payment Network” (UDPN). A January 15 press release states that the network will be able to support CBDCs from different countries. UDPN will be available “to any information system, including banks and mobile applications, to provide a standardized method for transferring digital currency.” BSN plans to complete the integration with 30 public blockchains this year, according to a press release. BSN previously announced plans to integrate 24 public blockchains during the first quarter of 2021. BSN is known to have already integrated Ethereum, EOS, Nervos, Tezos, NEO and IRISnet.

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