Nearly 21m (20.87m) personal and 3.51m corporate digital yuan wallets have so far been issued during China’s ongoing trials of its central bank digital currency (CBDC), the People’s Bank of China (PBOC) has revealed... More
Passengers on 24 subway lines and four suburban rail services in the Chinese capital of Beijing can now use the country’s central bank digital currency (CBDC) to make contactless payments for their fares from a digital yuan mobile wallet issued by the Industrial and Commercial Bank of China... More
The People’s Bank of China (PBOC) and the Industrial and Commercial Bank of China (ICBC) have unveiled prototype hardware devices that support the use of the digital yuan central bank digital currency (CBDC) across a range of different use cases... More
The Wall Street Journal has posted a video report showing Chinese consumers in the city of Chengdu using the country’s central bank digital currency (CBDC) to make in-store NFC and QR code payments from a digital yuan wallet on their mobile phone... More
Some 8,500 consumers in the Chinese city of Shanghai have been given e-wallets containing digital yuan as part of the country’s ongoing pilot scheme for its central bank digital currency (CBDC)... More
Tencent-backed WeBank and Ant-backed MyBank are conducting “preliminary work under the guidance of the People’s Bank of China (PBOC)” in order to integrate the digital yuan wallet into their payment and banking services, according to a China Securities report... More
At least eight major banks, including Hong Kong-based China CITIC Bank, have now introduced or are in the process of introducing digital wallets that support China’s central bank digital currency (CBDC), according to local media reports... More
Consumers in the city of Shenzhen are being offered the opportunity to win one of 50,000 ‘red envelopes’ containing 200 digital yuan (US$29.65) that they can spend at any of more than 3,000 retail outlets in the city that now accept China’s central bank digital currency (CBDC)... More
Internal closed pilot tests of the central bank digital currency (CBDC) developed by the People’s Bank of China (PBoC) are to be conducted in Shenzhen, Suzhou, Xiong’an New District, Chengdu, and at Beijing 2022 Winter Olympics locations, China’s central bank has revealed... More
China Mobile, the world’s largest mobile network operator, has chosen Gemalto to supply it with NFC-enabled SIMs “to protect consumer credentials used for mobile contactless applications, starting with mass transit services in Beijing.”... More
China Mobile, the country’s largest mobile operator, has reached agreements with subway and bus companies in 30 cities to allow users to make payments through mobile phones next year, reports Caixin Online... More
China’s leading location-based social service is distributing NFC window stickers to more than 3,000 merchants in Shanghai, Guangzhou, Chengdu, Taipei and Hong Kong. More
