China’s central bank will establish a Digital Yuan Operation and Management Center in Beijing, forming a dual-hub system with the existing international operation center in Shanghai as the country accelerates the rollout of its sovereign digital currency.

The new Beijing base will oversee the development, operation and maintenance of the digital yuan infrastructure, People’s Bank of China Governor Pan Gongsheng said Monday at the Financial Street Forum in the capital. The initiative will also support Beijing’s role as the nation’s financial management hub, he said.