Messaging App WeChat Joins Digital Yuan Tests
Main page Technologies, China, CBDC

WeChat, a popular Chinese messaging app owned by tech giant Tencent, has recently joined the testing of the digital yuan (e-CNY).

From now on, the users of the application from the regions where the pilot program is being conduced can use the tool as a means of payment for goods and services where the coin is accepted.

To be able to make transactions with China's CBDC, the users of WeChat must first submit an application to the WeBank neobank, which is also owned by Tencent.

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The People's Bank of China had earlier announced it was expanding the testing program of the e-CNY. At the moment, the testing program includes Shenzhen, Suzhou, Xiong'an, Chengdu, Shanghai, Hainan, Changsha, Xi'an, Qingdao, Dalian, Tianjin, Chongqing, Guangzhou, Fuzhou, Xiamen as well as other six cities from the Zhejiang province.

Statista has reported that WeChat was used by more than 1.2 billion people as of January.

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