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December 31, China Bank today issued the "Announcement on Interest Payment for Digital Renminbi": "From January 1, 2026, China Bank will pay interest on the balance of users' real-name digital renminbi wallets opened with our bank at the bank's prevailing savings deposit rate. The interest calculation and settlement rules are consistent with those of savings deposits."
The meaning in China is that you earn interest by holding stablecoins on exchanges and on-chain DeFi, and if you hold digital renminbi in your wallet, you also earn interest without any operation required. The risk is very low, backed by China. It’s more reliable than on-chain and exchange platforms!
China has started to block the stablecoin track. The decisive factor now is to see who can emerge victorious after China’s strategic game.