People’s Bank of China (PBC)
China’s central bank responsible for monetary policy and issuing the digital yuan.
What is People’s Bank of China (PBC)?
The PBC, established in 1948, oversees China’s financial system, managing currency issuance, interest rates, and reserves, with a key role in piloting the e-CNY since 2014. By 2025, it has expanded e-CNY pilots to over 23 cities, processing transactions worth over RMB 7 trillion, emphasizing two-tier distribution to avoid disintermediation.
In digital assets, the PBC promotes e-CNY as a sovereign CBDC to counter private cryptocurrencies, integrating features like managed anonymity and cross-border trials via mBridge. It established a Shanghai operations center in 2025 to advance e-CNY’s global use, supporting multipolar currency systems.
Related Terms
Meme on Solana
Humorous digital assets on the Solana blockchain, often inspired by internet memes, leveraging low fees and high speed for rapid launches and trading.
Ledger
An immutable, distributed digital record of transactions maintained across network nodes.
Transaction Fee
A cost paid to process and validate actions on a blockchain network, such as Ethereum, varying based on network demand and complexity.
Solana Smart Contract / Onchain Program
Executable code deployed on the Solana blockchain that processes transaction instructions to read from and modify controlled accounts, equivalent to smart contracts on other blockchains.
Beacon Chain
The proof-of-stake consensus layer of Ethereum, coordinating validators since December 2020.
Crypto
A shorthand term for cryptocurrency - digital currencies secured by cryptography and operating on decentralized networks.