Reports that China was launching a pilot program to test its ambitious Digital Currency Electronic Payment made headlines in late April, amid the emergence of screenshots on social media showing the DCEP wallet.

As China expands globally, seeking significant financial autonomy and less dependency on America amid its trade war with Washington, the country has long sought to wean itself from the US-dollar dominated financial system.

Finally, after years of effort, China is gearing up to release the world’s first sovereign digital currency – DCEP (short for Digital Currency/Electronic Payments).

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