With the arrival of the Internet big data era, the digital economy has become one of the important foundations of China’s economic and social development, and the rapid development of digital currency is the basic driving force and important symbol of the current Internet big data era. With the continuous transformation of the digital currency background, finance has become a modern economic system, both domestic and foreign, the competition in the financial industry is also gradually intense, and the innovation of the digital currency background has become the main direction of the development of modern China’s financial industry. In 2020, China’s central bank digital currency began to carry out pilot work in Shenzhen, Suzhou, Xiong’an New Area and Chengdu, China became the world’s first country to issue sovereign digital currency in the world. The issuance of the central bank’s digital currency will bring new opportunities and challenges to the domestic banking industry. The issuance of central bank digital currency will bring great challenges to the traditional business model of commercial banks, and at the same time, it will increase the competition among commercial banks and bring more pressure as well as new risks to the financial infrastructure of commercial banks. Therefore, commercial banks should adjust their business model, strengthen the cooperation among the banking industry, avoid vicious competition among banks, strengthen the financial infrastructure of commercial banks, and improve the risk prevention and control level of commercial banks comprehensively.