![]() ![]() Sign-up is possible through seven traditional commercial banks and two online banks, all of which are Chinese. The e-CNY will also gradually be expanded to cover the entire provinces of Guangdong, Hebei, Sichuan, and Jiangsu, although the exact timeframe for this rollout has yet to be announced. Users in 23 cities across China, including Shanghai, Beijing, and Shenzhen, can now pay for goods and services with the e-CNY. Although the app has been available to some users in China for over a year under limited pilot programs, this is the first time the app is freely available for anyone to download and use in any of the selected pilot cities. In his remarks, the vice president stated that he hoped all participating institutions and pilot regions would continue efforts to promote the innovation of digital yuan application scenarios, improve the digital yuan ecosystem, and help to develop the legal digital currency.Ģ022 kicked off with a major leap forward for the e-CNY – also known as the digital yuan – as the beta version of the digital yuan app was officially launched for iOS and Android on Chinese app stores. The pilot program has already been expanded to cover a total of 23 cities across China, including the cities of Beijing, Shanghai, and Tianjin. No time frame for the expansion of the trial program has been announced thus far. ![]() UPDATE (September 22, 2022): Vice President of the People’s Bank of China announced on September 19 that the digital yuan trial program will gradually be expanded to the whole of Guangdong, Sichuan, Hebei, and Jiangsu – the provinces in which the first four trial cities are located. ![]() We explain what the e-CNY is, how to use the digital yuan app, and the possibility of widespread uptake of the digital currency. In addition, Tencent-owned WeChat announced it would begin rolling out the e-CNY as a payment option on its platform, further introducing the digital currency to over 1.2 billion users. Now available to users in 23 cities across China, the app will enable millions of users to use the e-CNY by signing up through a range of commercial banks. SeptemPosted by China Briefing Written byĬhina has released the new digital yuan app for iOS and Android on domestic app stores. ![]()
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