Digital Renminbi Upgrade: Wallet Balances to Earn Interest by 2026 as Banks Move to On-Balance-Sheet Reserves and Non-Banks Remain at 100% Reserve

Digital renminbi upgrades are on the horizon, with Caixin reporting that wallet balances will become interest-bearing as of January 1, 2026. The reform preserves the dual-layer framework while extending yields to real-name wallets and reinforcing credibility through formal, deposit-like protections.

The initiative relocates bank-operated digital renminbi onto on-bank balance sheets, and pivots reserve requirements from full to partial for banks. Non-bank payment institutions will maintain a 100% reserve posture, promoting liquidity transparency and regulatory alignment across service channels.

Banks will remunerate customers on real-name wallet balances under the deposit interest rate pricing self-discipline framework, enabling autonomous asset-liability management for wallets and aligning security protections with insured deposits. Non-bank providers will continue to treat reserves as equivalent to customer funds under prevailing rules.