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Chinese Central Bank’s Digital Yuan App Hits Apple, Android Stores
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China’s digital yuan is inching ever closer to rollout – with a pilot version of a central bank-issued app and wallet released on Apple and Android app stores in the country.
The People’s Daily, the biggest state-run media outlet in China, reported that all citizens in existing pilot sites could now download and make use of the app. Previous stages of the pilot have required digital yuan users to use digital yuan wallets issued by state-owned commercial banks. The new pilot wallet, however, was issued directly by the central People’s Bank of China (PBoC) – or rather, the department of the bank that is developing the digital token: the PBoC’s Digital Currency Research Institute.
The media outlet noted that users could only make use of the app
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