Tuesday, October 26, 2021
Home Crypto News Market China Has Begun Testing Of The Digital Yuan In Atms

China Has Begun Testing Of The Digital Yuan In Atms

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State-owned Chinese bank Agricultural Bank of China (ABC) has started testing the operation of the national digital currency in ATMs in Shenzhen.

ATMs of some ABC branches in Shenzhen have received an update allowing users to access the digital Yuan. The bank’s customers will be able to convert ordinary Yuan to digital currency through ATMs and vice versa.




Testing the digital Yuan at ATMs was part of a second pilot program in Shenzhen, in which residents of the city received 200 digital Yuan to pay for goods and services.

The state bank also launched the “Digital Yuan Innovation Laboratory”, which develops new ways to use the state cryptocurrency.

Recall that in early January, the Network “leaked” photos of a hardware wallet for the digital Yuan. This digital wallet is made like a credit card and is equipped with a liquid crystal screen that displays the details of the operation.

Read Full Story: China Is Testing A Hardware Wallet For Digital Yuan

Testing of the mobile wallet for the national digital currency by ABC Bank began in April 2020.

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Albert Brownhttps://thecryptobasic.com/
Albert Brown is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. Holds major cryptocurrencies and has written for multiple crypto media outlets. His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

1 COMMENT

  1. China is 90% digital already. You basically use your cellphone to pay anything through Tencent or Alibaba’s platform. Right now it’s the government trying to gain control over that.

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