Circe Head: China's Digital Currency May Surpass Western Banking

Jeremy Aller, CEO of the Circle project, believes that Chinese digital currency can overshadow even Western payment systems.

During a Global Coin Research podcast, Aller said that the Chinese digital version of the renminbi, designed for use on different platforms as a means of payment over the Internet, creates good opportunities for Chinese companies and the state as a whole. Aller believes China’s CDBC has the potential to overshadow the western banking system. The Head of Circle also noted that the internationalization of Chinese June and the desire of the state to expand its economic opportunities are a natural step on the road to development. Aller believes that the world's major reserve currencies used in trade will ultimately be digitally presented. The company itself is closely monitoring the development of the national digital currency of the Celestial Empire.

Representatives of the Central Bank of China reported that the launch of CDBC is already very close, in early August this year. In addition, Chinese developers are creating technology that will control the issuance of digital currency, as well as a wallet, which will be used to store funds and support the operation of transactions with the digital version of the renminbi "end-to-end method".