#CryptoCurrency / Morgan Stanley Sees Yuan Rising As Reserve Currency

China’s yuan could become the world’s third-largest reserve currency in the foreseeable future due to increased foreign investment in Chinese companies… The shift would put the yuan behind the U.S. dollar and the euro. Reserves are funds central banks hold in currencies other than their own.

China has been pushing testing forward on a central bank digital currency (CBDC) with retail applications as well as four Chinese banks creating interfaces for a digital yuan. China reportedly has a goal of having a digital yuan in use at the 2022 Winter Olympics…

Even as foreign bankers mull how much yuan to hold, some bankers in China see the potential for an extremely significant change at home – the shift in the yuan from a paper currency to a digital-only currency.