People’s Bank of China governor Yi Gang recently confirmed that the transaction volume for China’s central bank digital currency (CBDC) aka Digital Yuan has reached a staggering $250 billion in just one-and-a-half years since starting the pilot tests.

Governor Yi Gant’s comments came on Wednesday, July 19, while speaking at a conference in Singapore. He also added that the country’s central bank digital currency aka Digital Yuan transacted a total of 1.8 trillion yuan as of the end of June.