China launches digital currency app for Android and Apple users in 10 cities

Suzhou Pagoda

Android and Apple users in 10 Chinese cities can now download a pilot version of the country’s digital yuan wallet app directly from the iOS and Android app stores that enables them to acquire, store and use China’s central bank digital currency (CBDC).

To date, Chinese consumers have only been able to download and open a digital yuan wallet when participating in specific pilot projects — such as the ‘red envelope’ lotteries held in Shenzhen, Chengdu, Suzhou and elsewhere — or in the form of CBDC wallets released by the major Chinese banks supporting the project.

The People’s Bank of China (PBOC) has now released what it describes as a “pilot version” of its digital yuan app for residents of Shenzhen, Suzhou, Xiongan, Chengdu, Shanghai, Hainan, Changsha, Xian, Qingdao, Dalian and Beijing.

Foreign visitors will also be able to use the digital yuan at 2022 Winter Olympics venues in Beijing, according to the South China Morning Post.

Chinese media reported that the digital yuan “is expected to officially land nationwide after the completion of the Beijing Winter Olympics testing” in July.


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