The People’s Bank of China (PBoC) recently announced that it has conducted more than $250 billion in transactions using its digital yuan, also known as the e-CNY. This is a major milestone for the Chinese central bank, which has been developing the digital currency since 2014.

The e-CNY is a digital version of the Chinese yuan, the country’s official currency. It is designed to be used for digital payments, and it can be used to make purchases online, in stores, and even in some international transactions. The PBoC has been working on the project since 2014, and it has been testing the currency in several cities over the past few years.

The announcement of the $250 billion in transactions is a major milestone for the PBoC and its digital currency project. The Chinese central bank has been working hard to promote the use of the digital yuan, and this announcement shows that it is making progress. The PBoC has also been working to ensure that the digital yuan is secure and reliable, and it has implemented a number of measures to protect users’ funds.

The digital yuan could have a major impact on the global economy. It could make it easier for people to make international payments, and it could also help reduce the cost of cross-border transactions. It could also help reduce the influence of the US dollar on global markets, as the digital yuan could become an alternative to the US dollar in some cases.

The PBoC’s announcement is a major step forward for the digital yuan, and it shows that the Chinese central bank is serious about promoting its use. It remains to be seen how successful the digital yuan will be, but this milestone is certainly a positive sign. If the digital yuan continues to gain traction, it could have a major impact on the global economy in the years to come.