Digital yuan wallet appears on app stores

The beta version of e-CNY is available for download for the residents of China

04.01.2022 - 09:10

298

1 min

What’s new? A tweet from the local news agency BlockBeats says that some users in China can now download the beta version of the digital yuan application from the AppStore or Google Play. The developer of e-CNY is listed as the Digital Currency Research Institute of the People's Bank of China, an offshoot of the country's Central Bank.

The e-CNY app is now available on iOS and Android app stores.This App is the official service platform of China's CBDC for individual users to carry out pilot trials, providing e-CNY personal wallet opening and management, e-CNY exchange and circulation services.#CBDC pic.twitter.com/c8S1newxiw— BlockBeats (@BlockBeatsChina) January 4, 2022

What is the digital yuan? It is the Central Bank Digital Currency (CBDC), a type of cryptocurrency issued and controlled by the state. Last year, China tested its digital yuan on commodity futures transactions. Back in April 2020, the country's Central Bank announced that the digital yuan will be available for use during the Beijing Winter Olympics in 2022.

Author: