Digital RMB

A coffee shop in Beijing has begun accepting payments in Digital RMB, the first test of the digital currency application scenario in the Chinese capital.

A total of 100,000 gift money in the form of a so-called "Red Envelop" of RMB 200 each will be available to all eligible Suzhou residents starting at 20:00 on December 11.

China's Suzhou city will launch a pilot program of giving digital RMB gift money during the December 12 shopping festival, an upgrade from Shenzhen.

The Huawei Mate40 series is the first smartphone to support digital RMB hardware wallets with hardware-level security, controlled anonymity protection and offline transactions, bringing a new experience of secure and convenient payment, Huawei said today when it launched the phone in China.

WeChat, Alipay and the central bank digital RMB are not in the same dimension and they do not compete, said Mu Changchun, director of the People's Bank of China's Digital Currency Institute, at the forum of the second Bund Financial Summit in Shanghai.

After the digital RMB lucky money trial in Shenzhen ends on October 18, those who have downloaded the digital RMB wallet App can continue to use it after topping up their money, the Beijing News quoted a source as saying on Friday.

On October 13, Sinopec Guangdong Branch launched a pilot digital RMB payment application at 11 gas stations in Shenzhen.

The much-anticipated digital RMB is finally coming to the public.

Beijing will build a legal digital currency pilot zone and a digital financial system, relying on the People's Bank of China's trade and finance blockchain platform to form a trade and finance blockchain standard system.

On August 29, China Construction Bank opened a "digital currency wallet" in its official app. However, the function has been temporarily taken offline with a page showing "this function is not officially available to the public yet, please wait" while searching for "digital currency" in the app.