China’s trials with central bank digital currency (CBDC) show no signs of slowing down, as the updated numbers for October 2021 were revealed at Hong Kong Fintech Week.

Set out to replace cash in day-to-day transactions, the digital yuan (e-CNY) is gaining traction among individuals and corporates alike, according to the People’s Bank of China’s (PBoC) Digital Currency Institute head Mu Changchun. Mu stated Wednesday that there were 140 million individual digital Yuan accounts, and 10 million corporate accounts.