China’s State-Run Banks Reportedly Testing Wallet for Digital Yuan
Cointelegraph
Published Aug 06, 2020 08:05AM ET
Updated Aug 06, 2020 09:40AM ET
A group of state-run commercial banks in China are reportedly conducting a large-scale internal testing of a digital wallet designed for China’s national digital currency, the digital yuan.
According to an Aug. 5 report by Reuters, the banks are testing the wallet application to transfer money and make payments in China’s central bank digital currency, or CBDC. As reported, the development was initially revealed to China’s state-backed newspaper the 21st Century Business Herald by several employees at involved state banks in cities including Shenzhen.
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Written By: Cointelegraph
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