A mobile wallet for operations with digital yuan appeared in the App Store and Play Market

В App Store и Play Market появился мобильный кошелек для операций с цифровым юанем

  • The Central Bank of China has begun testing a pilot version of a mobile client for transactions in DCEP
  • So far, the app is only available for the local market

On the morning of Tuesday, January 4, a pilot version of the e-CNY program appeared on the App Store and Play Market. It is a digital yuan-based settlement wallet.

The software was developed by the Digital Currency Research Institute, one of the divisions of the People’s Bank of China. So far, the software is only available on the local market.

To authorize and use the application, you will need a verified account in the licensed financial institution of the country.

In addition, in order to enter the software and conduct a transaction, the client’s geolocation must match the list of “allowed locations”. All of them 22, including the Olympic town and the largest provinces of the country.

The program allows you to view transactions and conduct transactions in the digital payment network of the Central Bank of China (DCEP). It is not yet known whether it will be available to a wide audience.

Unlike other countries, where CBDC is only being watched, China has quickly taken a new niche. Moreover, local authorities subject cryptocurrencies to censorship and restrictions, which can be seen as a measure of the protectionism of the national digital currency.

See also: the head of the Central Bank of Japan announced plans to issue a digital yen.

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