Who would have thought, the central bank’s digital currency (CBDC) digital yuan (e-CNY) is now almost launched?
For the record, China has advanced with a test launch of the digital yuan wallet app which is available on the App Store platform for iOS users and Google Play for Android users.
The testing covers aspects of wallet activation and management, including transaction processing.
However the testing is only open to selected individuals by authorized e-CNY service providers.
Earlier, the president of the Bank of China, Governor Yi Gang explained that they will continue to develop e-CNY, as well as improve its design and use.
They also want to improve interoperability with the current payment system.
The use of e-CNY is predicted to begin during the 2022. Winter Olympics. But U.S. senators early on had already banned their athletes from using the country’s digital assets.
