Yesterday a screenshot emerged showing an online wallet used in testing China’s central bank digital currency (CBDC). The wallet referred to the Agricultural Bank of China (ABC), one of China’s big four state banks, which is known to be involved in piloting the digital Yuan, also referred to as DCEP (digital currency / electronic payment).
Some reports state that the app is only accessible to customers on a whitelist in four regions, Shenzhen, Xiong’an, Chengdu and Suzhou. Update: news has emerged of a specific DCEP application in Suzhou and Chinese state media confirmed these locations and described how it works. And four months later a screenshot of China Construction Bank’s app was revealed.
The payment functionality in the app includes the ability to make retail payments by scanning a barcode, to send money, request a payment and touch phones for p2p payments.
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