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fintechpayments4 April 20266 min read
China Killed Its Digital Cash — Now Europe Must Rethink the Digital Euro
On January 1, 2026, Beijing quietly abandoned the foundational premise of its e-CNY experiment, reclassifying the digital yuan from a cash substitute into an interest-bearing bank deposit. The world's most aggressively promoted state digital currency just admitted it couldn't beat Alipay and WeChat Pay at their own game. European policymakers accelerating the digital euro have a narrow window to absorb that lesson before they repeat it.
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