• bitcoin
    Bitcoin(BTC)
    $0.00 4.63%24H
  • ethereum
    Ethereum(ETH)
    $0.00 7.65%24H
  • binance-coin
    Binance Coin(BNB)
    $0.00 8.29%24H
  • usd-coin
    USD Coin(USDC)
    $0.00 -0.04%24H
  • cardano
    Cardano(ADA)
    $0.00 5.58%24H
  • chainlink
    Chainlink(LINK)
    $0.00 7.66%24H
  • bitcoin-cash
    Bitcoin Cash(BCH)
    $0.00 5.04%24H
  • stellar
    Stellar(XLM)
    $0.00 4.19%24H
  • vechain
    VeChain(VET)
    $0.00 7.84%24H
  • tezos
    Tezos(XTZ)
    $0.00 5.65%24H
  • eosdac
    eosDAC(EOSDAC)
    $0.00 3.34%24H
Crypto Currency Bazaar 4u
  • INVESTMENTS
    • Crypto General
    • Masternodes
    • Mining Projects
    • NFTS Investments
    • Invest In ICO
    • Exchanges
    • Staking Yeild Farming
  • WORLD
  • USA
  • CANADA
  • JAPAN
  • UK
  • UAE
  • INDIA
  • MORE
    • BRAZIL
    • AUSTRALIA
    • EL SALVADOR
    • CENTRAL AMERCIA
    • SOUTH AMERICA
    • AFRICA
    • EUROPE
    • ASIA
    • OCEANIA
    • ICO
  • Login
  • BLOCKCHAIN
  • BITCOIN
  • ETHEREUM
  • NFTS
  • ALTCOIN
  • MINING
  • VIDEOS
  • LIVERATES
  • SHOP
  • CLASSIFIEDS
  • ADVERTISE
  • SUBMIT PRESS RELEASE
HealthNews
No Result
View All Result
Home UK

China’s leading messaging app, WeChat to accept digital yuan settlements

CB4U by CB4U
January 9, 2022
in UK
0
China’s leading messaging app, WeChat to accept digital yuan settlements
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

WeChat Pay, the leading messaging platform in China, will start accepting digital yuan payments. This is expected to push the adoption of the e-CNY, given that the messaging app has over one billion users.

WeChat to support digital yuan

A report from CNBC noted that WeChat Pay will start supporting payments using the digital yuan. WeChat Pay is a multi-purpose messaging and mobile payments application. By launching this service, the number of people using the digital yuan is expected to increase significantly.

WeChat Pay is not the only payments platform looking towards increasing the use cases for the digital yuan. AliPay, the main competitor of WeChat in China, is also looking towards promoting settlements in the digital yuan. In 2021, AliPay, which is a subsidiary of Alibaba’s Ant Group, launched research into the adoption of the China CBDC.

AliPay and WeChat Pay have dominated the Chinese market, such that it is impossible to change consumer mindsets of shifting towards other forms of payments. Linghao Bao, an analyst at Consultancy Trivium China, noted that Chinese consumers cannot shift to a new mobile payments platform.

Bao noted, “so it makes sense for the central bank to team up with WeChat Pay and Alipay as opposed to doing it on its own.”

Earlier on, China had noted that foreign tourists coming for the Beijing Winter Olympics could use the digital yuan during the sports event.

China pushing for CBDC adoption

The People’s Bank of China has been making plans to push for the adoption of its CBDC. The efforts have intensified during the past few months, and in November 2021, the PBoC stated that the number of people that had created digital yuan wallets was around 140 million.

The PBoC also recently released a pilot version of the e-CNY application. This mobile wallet will be used with the digital yuan. The pilot app has been rolled out on iOS and Android devices across China. Local users of the digital yuan can now download the application and run pilot tests on its operation and the circulation of the CBDC.

The pilot trials were first made available in Shanghai, and they later expanded to other cities. The PBoC further noted that the pilot version of the digital yuan would only be accessible to accredited users since it was still in the pilot phase. The users will be selected through institutions that offer e-CNY services.

Your capital is at risk.

Read more:

Advertisement Banner
Previous Post

Kosovo Seizes Hundreds of Crypto Mining Machines in Crackdown – Mining Bitcoin News

Next Post

Komodo Joins The UTXO Alliance

CB4U

CB4U

Next Post
Komodo Joins The UTXO Alliance

Komodo Joins The UTXO Alliance

Discussion about this post

RECOMMENDED

Următorul 100x în crypto (aștept 3 mil $ PROFIT)

Următorul 100x în crypto (aștept 3 mil $ PROFIT)

2 months ago
QUALCOSA STA CAMBIANDO 🚨QUESTO Potrebbe essere un fattore decisivo! CRYPTO SUNDAY

QUALCOSA STA CAMBIANDO 🚨QUESTO Potrebbe essere un fattore decisivo! CRYPTO SUNDAY

5 months ago

DON'T MISS

SHIB Price Advances To $0.000035 Amid Bullish Formation

Here’s Why Shiba Inu Ecosystem Tokens’ Prices Are Shooting Up

June 26, 2022
CRYPTO : BITCOIN RISQUE IMMINENT ATTAQUE DES $20,000 !? 🔥

CRYPTO : BITCOIN RISQUE IMMINENT ATTAQUE DES $20,000 !? 🔥

June 26, 2022
Ripple Price Prediction for Today, June 25: XRP Drops Below $0.37

Ripple Price Prediction for Today, June 25: XRP Drops Below $0.37

June 26, 2022
Yuga Labs sues BAYC critic Ryder Ripps over claims of Nazi origins

Yuga Labs sues BAYC critic Ryder Ripps over claims of Nazi origins

June 26, 2022
Crypto Currency Bazaar 4u

The Cryptocurrency Bazaar 4U was founded in 2020 for providing the most trusted information for the Crypto enthusiasts covering a broad range of news about blockchain technology, cryptocurrency assets, emerging fintech trends in the decentralized space, and other related wide array of information surrounding this emerging technology.Our team provides the most up-to-date and accurate news from different sources in this space comprising of unbiased news, in-depth analytics, detailed cryptocurrency price charts, and insightful opinion pieces is the basis of our editorial content.

POPULAR POSTS

SHIB Price Advances To $0.000035 Amid Bullish Formation

Here’s Why Shiba Inu Ecosystem Tokens’ Prices Are Shooting Up

June 26, 2022
CRYPTO : BITCOIN RISQUE IMMINENT ATTAQUE DES $20,000 !? 🔥

CRYPTO : BITCOIN RISQUE IMMINENT ATTAQUE DES $20,000 !? 🔥

June 26, 2022
Ripple Price Prediction for Today, June 25: XRP Drops Below $0.37

Ripple Price Prediction for Today, June 25: XRP Drops Below $0.37

June 26, 2022

Categories

  • AFRICA
  • ALTCOIN
  • ASIA
  • AUSTRALIA
  • BITCOIN
  • BLOCKCHAIN
  • BRAZIL
  • CANADA
  • CENTRAL AMERCIA
  • CRYPTO GENERAL
  • EL SALVADOR
  • ETHEREUM
  • EUROPE
  • EXCHANGES
  • ICO
  • INDIA
  • INVERST IN ICO
  • INVESTMENTS
  • JAPAN
  • MASTERNODES
  • MINING
  • MINING PROJECTS
  • NFTS
  • NFTS INVESTMENTS
  • OCEANIA
  • SINGAPORE
  • SOUTH AMERICA
  • STAKING & YEILD FARMING
  • UAE
  • UK
  • Uncategorized
  • USA
  • VIDEOS
  • WORLD
  • CONTACT US
  • DISCLAIMER
  • PRIVACY POLICY
  • ABOUT US
  • CLASSIFIED
  • ADVERTISE
  • SUBMIT PRESS RELEASE

© cryptocurrencybazaar4u.io

No Result
View All Result
  • BLOCKCHAIN
  • BITCOIN
  • ETHEREUM
  • NFTS
  • ALTCOIN
  • MINING
  • VIDEOS
  • LIVERATES
  • SHOP
  • CLASSIFIEDS
  • ADVERTISE
  • SUBMIT PRESS RELEASE

© cryptocurrencybazaar4u.io

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • bitcoin
    Bitcoin(BTC)
    $0.00 4.63%24H
  • ethereum
    Ethereum(ETH)
    $0.00 7.65%24H
  • binance-coin
    Binance Coin(BNB)
    $0.00 8.29%24H
  • usd-coin
    USD Coin(USDC)
    $0.00 -0.04%24H
  • cardano
    Cardano(ADA)
    $0.00 5.58%24H
  • chainlink
    Chainlink(LINK)
    $0.00 7.66%24H
  • bitcoin-cash
    Bitcoin Cash(BCH)
    $0.00 5.04%24H
  • stellar
    Stellar(XLM)
    $0.00 4.19%24H
  • vechain
    VeChain(VET)
    $0.00 7.84%24H
  • tezos
    Tezos(XTZ)
    $0.00 5.65%24H
  • eosdac
    eosDAC(EOSDAC)
    $0.00 3.34%24H