Caixin: Digital Renminbi plan upgraded, wallet balances will earn interest starting in 2026

Digital RMB will undergo an important scheme upgrade. Starting from January 1, 2026, the balance of digital RMB wallets will officially be included in the interest-bearing mechanism. Without changing the "dual-layer operation structure," the digital RMB issued by bank-operated institutions will be adjusted from off-balance-sheet assets to on-balance-sheet management, and the reserve system will change from the original 100% reserve requirement to a partial reserve; non-bank payment institutions will still need to implement a 100% digital RMB margin system.

Reports indicate that banking institutions can pay interest on customers' real-name digital RMB wallet balances and must comply with self-discipline agreements on deposit interest rate pricing. At the same time, they can independently carry out asset-liability management around the digital RMB wallet balances. The relevant balances will be legally included in the deposit insurance protection scope, enjoying the same security protection as deposits. For non-bank payment institutions, the margin property of digital RMB is no different from the existing customer reserve funds.