Mobile app to manage China’s digital yuan
China is launching a final push in the adoption of the central bank digital currency (digital yuan). The Central Bank of China issued a mobile app for handling the digital yuan (e-CNY), the digitalised version of its currency. The app can be downloaded on Chinese Android and Apple app stores on Tuesday in Shanghai (China). China is conducting a two years long pilot programme on launching the Central Bank Digital Currency (CBDC).
China reported significant progress towards full implementation of the CBDC, and the Peoples Bank of China’s Governor Yi Gang said in late 2020 that China would continue to advance the development of its CBDC and improve its design and usage.