Digital Yuan App Has Been Very Popular In China

Digital yuan app has been very popular in China. China's digital yuan app e-CNY has reached 16 million downloads in one week.

The People's Bank of China, taking an important step towards developing its own CBDC (digital currency), has released the digital yuan wallet application called "e-CNY" for use on mobile phones. This app has been released on iOS and Android app stores recently. The app reached 16 million downloads in the first week after its release. China's e-CNY pilot wallet app has reached 16 million downloads after its launch. In addition, the e-CNY pilot wallet application ranked second among free apps on the App Store in China and first in the store's finance category. China has been working on the digital yuan for 7 years. It should also be noted that the digital yuan application was made available on January 3. In addition, developments regarding e-CNY in China continue rapidly. Accordingly, the country's food delivery giant Meituan has started accepting digital yuan for payments. The e-CNY is expected to be officially launched at the Beijing Winter Olympics in February.