There is a debate all over the world about virtual currency with security and traditional currency, but there is news that China can launch its crypto currency by the end of this year. It is said that China's crypto currency will compete with the world's largest social media company, Facebook's crypto currency Libra.
According to a report by Business magazine Forbes, People's Bank of China (PBOC) is working fast on this digital currency. The report claims that China's virtual currency should be introduced before Facebook's Libra. At the same time, it is said that the trial has begun in China. However, the name has not yet been revealed.
According to Forbes, initially four major Chinese banks will be allowed to use this crypto currency. At the same time, it is said that in the future, Alibaba, Tencent (PUBG company), Union Pay and an unknown company will also be included in it. It is being reported that China has been working on crypto currency since 2014.
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