State-owned Chinese Bank Launches App to Test Digital Yuan
Main page News, China, Central Banks

The state-owned bank Agricultural Bank of China has just rolled out a mobile app to test the People's Bank of China's (PBOC) central bank digital currency (CBDC).

The new bitcoin pro new crypto app, which is now available for download, reportedly includes a series of functionalities related to the digital yuan, such as digital currency exchange, wallet management, transaction tracking and connecting other wallets.

However, it looks like these functionalities are not available to all users, but only to those who are part of the project. Users who are not part of the project will receive an error message.

This app will likely be available through the local branches of the bank in Shenzhen, Xiong'An, Chengdu and Suzhou.

In December last year it was reported the country's central bank had teamed up with seven state-owned companies, including the Agricultural Bank of China, to test its new CBDC.

In addition, a month later the People's Bank of China reported the project was pretty advanced and that the "top level" design of the currency was complete.

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