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HomeCrypto NewsMarketChina 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.

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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.

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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Albert Brown
Albert Brownhttps://thecryptobasic.com/
Albert Brown is a cryptocurrency investor and journalist who has been in the nascent space since 2017. His love and passion for technological innovations made him delve deeper into the world of blockchain and cryptocurrencies. As a journalist, Brown has written on several crypto-related topics that have been referenced by popular industry players like Tyler Winklevoss, Binance CZ, etc.

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