The Chinese government has accelerated its work on its own digital currency “digital yuan” after bans on Bitcoin and cryptocurrencies.
The People’s Bank of China, which has been piloting digital yuan in many areas, has now launched the digital wallet application for the digital yuan on Android and iOS platforms.
In the post shared by Chinese local news source BlockBetas on Twitter, it was stated that users in China can download the “digital yuan wallet” mobile application from their phones with the new application.
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
The application named “e-CNY” has started to be used in the Chinese version of both iOS and Android operating systems as of today.
With the e-CNY pilot application, users will be able to experience personal wallet opening-management as well as digital yuan transactions.
In the statement in the application, it was stated that the digital yuan wallet application is in the research and development stage and can only be used by institutions that support e-CNY services and some banks.
China Central Bank Governor Yi Gang said in a statement last month that they continue to work on developing the digital Yuan and increasing its interoperability with existing payment systems.
In its previous statements, the People’s Bank of China stated that the Digital Yuan could also be used in the 2022 Beijing Winter Olympics.