The digital yuan wallet is available for trial on iOS and Android platforms in China

The mobile wallet for the digital yuan now available

On his Twitter account, the local Chinese media BlockBeats revealed that the mobile wallet for the digital yuan was available on iOS and Android application platforms in China.

This app is a mobile wallet allowing the use of the digital yuan, China’s central bank digital currency (MNBC).

As of now, Chinese residents can download this test version in order to be able to manage their personal portfolios.

It is a subsidiary of the Chinese central bank who developed this app. Moreover, to be able to download this application, users must live in the following cities:

“Shenzhen, Suzhou, Xiong’an, Chengdu, Shanghai, Hainan, Changsha, Xi’an, Qingdao, Dalian and the Olympic Winter Games area,” says BlockBeats.

Thus, this new service demonstrates that China is taking a head start on the use of an MNBC.

China, a pioneer in the use of an MNBC

It is true that the country was one of the first to experiment with central bank digital currency. Currently, the use of the digital yuan is starting to gain momentum in China.

Indeed, after experimenting with the integration of the crypto-yuan into merchant payment terminals, China has deployed nearly 3,000 ATMs for make the digital yuan more liquid. The goal is to be able to convert it into cash more easily.

To extend the use of the MNBC, the towns of Beijing and of Suzhou also allow digital yuan payment in the metro.

Since then, nearly 10% of the Chinese population already use the MNBC, according to the People’s Bank of China (PCB).

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About the Author : Anthony bassetto

It was in 2017 that I discovered cryptocurrencies and blockchain technology. Also, I would like to share with you the news of this sector, which is in full swing, so that you can be up to date with the latest news.
All articles by Anthony Bassetto.

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