On April 17. South China Morning Post reported that the government taps another tech partnership to continue the development of China’s digital yuan amid the reported trials of the central bank’s digital currency (CBDC).
Reportedly, SenseTime, is the world’s highest-valued AI startup with an over $7.5 billion valuation that will work with the central bank to improve risk control and operational capabilities across financial institutions.
According to an April 27 statement by SenseTime:
“The two parties will jointly establish a research and innovation body, take application scenarios, jointly develop AI applications in finance, and accelerate the advancement of AI innovation research in the financial field.”