certify
Home arrow Article arrow Article Detail

Chinese central bank launches Android and iOS app for e-CNY, the digital yuan wallet

Profile Image

Pavan A Follow

INDIA

Jan, 04 2022

Jan, 04 2022

likes 0 | comments 0

Article Image

China's Central Bank (PBOC) has launched pilot programs for mobile wallets that will run on both Android and iOS, according to Reuters. This shows the PBOC is working quickly on launching digital yuan.

 

The trial version of e-CNY, the Chinese digital currency mobile wallet, has been launched in iOS and Android app stores in China. Individuals in China can download it now and try managing their personal wallets as well as trade and exchange e-CNY, according to sources. CBDC is a currency controlled and issued by the government of the PRC.

 

According to Twitter handle, BlockBeats, "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."

 

The e-CNY's developer is listed as the Digital Currency Research Institute of the People's Bank of China, the arm of the Central Bank of China.

 

Currently, only 11 Chinese regions can download the wallet: Shenzhen, Dalian, Shanghai, Hainan, Tru?ng Sa, Xian, Suzhou, Xian, Chengdu, Qing Island, and the Winter Olympics area.

 

In spite of the fact that many countries are working on this technology, China was one of the first to prepare a CBDC for public use.

 

The PBOC Governor stated earlier that China would continue to develop its native centralized cryptocurrency, the stablecoin, and keep working on its design and usage. Digital Currency Electronic Payment (DCEP) will also conform to China's existing payment systems.


likes 0 Likes | comments 0 Comments

Profile Image

Pavan A

CBW - External Analyst

INDIA

Comments
Disclaimer: The information is for informational purposes only.​ This advertisement does not constitute financial advice or any other advice. You should consult with a financial professional to determine what may be best for your individual needs. None of the information and/or content available through this advertisement is intended as an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any company, financial product, security or commodity. To the maximum extent permitted by law, we disclaim any and all liability in the event any information, commentary, analysis, opinions, advice and/or recommendations prove to be inaccurate, incomplete or unreliable or result in any investment or other losses. In Making the investment decision, investors must rely on their own examination of the issuer and the terms of the offerings, including the merits and risks involved. Investments are speculative, illiquid, and involve a high degree of risk , including the possible loss of investment.