Yuan digital wallet test application took place in Shanghai.
China has released pilot versions of its mobile wallet app for the digital yuan. This is the country’s central bank digital currency (CBDC), which of the large economies is one of the most advanced in this matter. The e-CNY app (pilot version) is available at Chinese Android and Apples stores in Shanghai, according to Reuters.
According to the news agency, when accessing the application, there is a message that it is a pilot in the research and development phase. However, it is only available to a limited group of users. In addition, these users access through institutions that are providing services to the digital yuan wallet.
Last July, tests with the digital yuan had reached $5.3 billion (about R$30 billion) in 70.7 million transactions. The operations involved 20.8 million individuals who opened digital wallets for the currency.
In Brazil, the testing phase of the digital real should start around the end of March. Therefore, the Central Bank created the Lift Challenge Real Digital, for tests with the new version of the Brazilian currency. The program will be with the National Federation of BC Servants (Fenasbac), which already manages Lift, a laboratory for the development of innovative financial solutions. The information is already on the program’s website.
Thus, the start of registration of project proposals from financial institutions to participate in the test runs from next Monday (10) until February 11th.