E-CNY App, China’s Central Bank Digital Currency’s official service platform, allows individual users to use the “Pilot Version” to open e-CNY personal wallets and use the exchange and circulation services.
This app is now accessible on both the Android and Apple app stores in China. However, it is only available in ten cities, including Beijing, Suzhou, Shenzen, Chengdu, and Shanghai.
Furthermore, China sees the 2022 Winter Olympics in Beijing as the first check of the e-CNY app by foreign users. This February, foreigners will be allowed to utilize the digital yuan at Winter Olympic venues.
At the beginning of November, e-CNY was registered for use by 140 million people, total transactions worth 62 billion yuan (9.7 billion USD), and accepted for payment at 1,55 million stores inChina.
On July 16th, the People Bank of China announced the official e-CNY whitepaper. Among them, it’s important to note that this digital yuan has the ability to integrate with smart contracts.
The Governor of the People’s Bank of China, Yi Gang, indicated that China would continue developing and strengthening its CBDC (Central Bank Digital Currency), including enhancing its compatibility with existing payment methods.
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