China's Digital Yuan Wallet App Now in iOS and Android App Stores

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The Digital Yuan Wallet App is now available for download on the App Stores for iOS and Android.

The People's Bank of China (PBOC), China's central bank, has published a beta version of its central bank digital currency (CBDC) wallet application.

The wallet software for e-CNY, also known as Digital Currency Electronic Payment (DCEP), developed by the PBOC Digital Currency Research Institute, is now available for download in China's iOS and Android app stores. Previously, the wallet app could only be obtained through private connections. The software is completely free to use.

According to Mu Changchun, the chairman of the PBOC Digital Currency Research Institute, as of October 2021, around 140 million Chinese people have established a digital yuan account, with total transactions totaling 62 billion yuan (US$9.7 billion) since its introduction.

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