Mobile apps may not be the only medium for storing and transacting China’s digital yuan, according to the Terms and Services agreement from a major Chinese bank. The roll-out of China’s central bank digital currency may include hardware wallets as well.
Over the weekend, China Construction Bank (CCB), one of the country’s big-four state-owned commercial banks, opened up a wallet service to public users within its mobile app for testing China’s central bank digital currency (CBDC), also known as DC/EP.
While various nations are discussing the potential of CBDC to increase financial inclusion, China, the world’s second-largest economy, is poised to become the first country to digitize a sovereign currency.
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