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China central bank launches digital yuan wallet apps for Android, iOS -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – The digital yuan sign, also known as eCNY in China, can be seen at China International Fair for Trade in Services 2021 (CIFTIS), Beijing, China, September 3, 2021. REUTERS/Florence Lo

SHANGHAI, (Reuters) – China’s central bank has launched pilot versions of its digital yuan app on mobile phones. This is part of its efforts to create its own digital currency.

The People’s Bank of China’s (PBOC), digital currency research institution, released the app “eCNY (Pilot version)”. It was downloaded on Chinese Android and Apple app stores in Shanghai on Tuesday.

An app notice indicated that the application is currently in a research-and-development pilot phase. It is available only to select users via supported institutions that offer eCNY services.

Yi Gang (PBOC Governor) stated that China was committed to continuing the advancement of its digital currency, its central bank’s design and use. This includes enhancing its interoperability and compatibility with current payment methods.

PBOC declared that they would keep pushing forward the development and research of digital yuan in a year-end meeting.

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