Binance Research, the research arm of the major crypto platform Binance, has reported that it would need to use China's Central Bank Digital Currency (CBDC).
Loose coupling and anonymity
Binance Research shared its Findings on Aug 28. According to the report, China's CBDC intends to transferable without a bank due to its loosely coupled design.
The upshot is that users are reportedly willing to transfer the CBDC to one another without needing a bank account.
The report also puts forward that The People's Bank of China (PBoC) is now looking for "smart money" in the US: "What does it mean?"
According to the report, the PBoC is concerned that it would offer a security instead.
No plans to launch in November
As reported by Cointelegraph, the Global Times claimed that the PBoC had no plan to release its CBDC in November. The PBoC what to do in November, calling rumors of a launch in months to be "inaccurate speculation."
Anonymous source had previously told CBT that it complete and that it could potentially arrive as early as Nov. 1