China’s central bank has released its digital currency wallet app ahead of the Winter Olympics. You can download the wallet app for digital yuan (also known as eCNY) from both the iOS and Android apps stores.
Digital Yuan Wallet app now available in the iOS and Android App Stores
China’s central bank, the People’s Bank of China (PBOC), has released a pilot version of its central bank digital currency (CBDC) wallet application.
The PBOC Digital Currency Research Institute developed the wallet app to e-CNY. Also known as Digital Currency Electronic Payments (DCEP), it is available in both the iOS and Android apps stores. The previous version of the wallet app had to be downloaded through private links. You can use the app for free.
Mu Changchun (head of the PBOC’s Digital Currency Research Institute) stated in November that 140 million Chinese had opened a digital yuan bank account by October 2021. The accumulated transactions reached 62 billion yuan ($9.7 billion since launch).
Yi Gang (PBOC Governor) stated that China was committed to continuing the advancement of its central bank’s digital currency, as well as improving its design and use. This includes increasing interoperability and payment methods.
A notice is located inside the digital wallet app for digital yuan. It states that the app remains in its research and development phases. SCMP states that new registrations can only be made in the digital yuan trial areas and via major banks offering e-CNY services. The trial regions are Shenzhen, Suzhou, Xiongan, Chengdu, Shanghai, Hainan, Changsha, Xian, Qingdao, Dalian, and venues of this year’s Winter Olympics, hosted by Beijing.
What do you think about China’s digital yuan wallet app available in iOS and Android app stores in China? Please leave your comments below.
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