According to Reuters, PBOC (the Central Bank of China) has kicked off pilot versions of wallets for digital yuan that will run both on Android and iOS. This indicates that the PBOC is rushing to launch digital yuan (also known as e-CNY or DCEP) as soon as possible.
China https://t.co/RRbOJrUs08 launches digital yuan wallet apps for Android, iOS https://t.co/EKsHM3QHtB pic.twitter.com/Cp9m2Jm6cQ
— Reuters (@Reuters) January 4, 2022
The app for using DCEP has been created by the digital currency research institute of the country’s central bank. However, these trial versions of apps will be open only to selected users via supported financial institutions and will become available in Shanghai today, on December 4.
The e-CNY app is now available on iOS and Android app stores.
— BlockBeats (@BlockBeatsChina) January 4, 2022
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
In late-fall 2021, the PBOC governor stated that China would press on with developing its native centralized cryptocurrency, a stablecoin, keep working on its design and usage. They will also ensure that DCEP can be compatible with the current methods of payments widely spread in China.
Godfrey Benjamin
Alex Dovbnya
