bullish

China Digital Currency: E-CNY Wallet App Launched Before Winter Olympics

359 Views06 Jan 2022 05:49

Roger has highlighted this Insight as a Top Pick

SUMMARY

Trial version e-CNY digital wallet has been launched on iOS and Android app store as the country's central bank steps up its push to develop its own digital currency.
The initial usage shows e-CNY digital wallet is best paired with bank-app to fulfill KYC requirement to open account; standalone digital wallet has difficulty to verify identification.
The rising of China Digital Currency/Electronic Payment system could be disruptive to financial system. We believe it will lead the changes in payment, risk control, user data and credit history.

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