China launches digital yuan wallet app

China has released pilot versions of its digital yuan wallet application on mobile phone app stores.

China made the “e-CNY (Pilot Version)” app available on Chinese Android and Apple app stores on Tuesday.

The e-CNY was developed by the People’s Bank of China’s (PBOC) digital currency research institute.

A notice in the app said it is in a research and development pilot phase and is only available to selected users through supported institutions that provide e-CNY services, including major domestic banks.

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