China’s digital yuan has scored Taiwan a first by offering a bond offering to the island. The state-run digital currency, the Digital Currency Electronic Payment (DCEP), has been developed by the People’s Bank of China in order to digitize the country’s currency. The digital yuan has been used to purchase a total of $321.5 million of Taiwanese bonds, the first time the DCEP has been used in a bond offering. While the move is largely symbolic, it could potentially open up new opportunities for using the digital yuan to move money between countries.
