The former architect of China’s central bank digital currency (CBDC) initiative has left the position to head the country’s central securities clearing house.

Yao Qian, who founded the Digital Currency Research Lab at the People’s Bank of China (PBoC) last year, has now taken up the role of general manager at the China Securities Depository and Clearing Corporation (CSDC), according to an update from the firm on Monday.

He joined the firm this month, having left the PBoC in September, the CSDC says.

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