{"id":37096,"date":"2023-07-18T02:27:28","date_gmt":"2023-07-18T06:27:28","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/36m-digital-yuan-wallets-now-open\/"},"modified":"2023-07-18T02:27:30","modified_gmt":"2023-07-18T06:27:30","slug":"36m-digital-yuan-wallets-now-open","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=37096","title":{"rendered":"36m Digital Yuan Wallets Now Open"},"content":{"rendered":"
\n

The Chinese city of Shenzhen says its residents have opened almost 36 million digital yuan wallets, as the nation\u2019s central bank digital currency (CBDC) pilot breaks new ground.<\/p>\n

Per the Shanghai Securities News and the China Securities Network News, the claims were made by the Shenzhen branch of the central People\u2019s Bank of China (PBoC).<\/p>\n

The PBoC stated that \u201cas of the end of June 2023,\u201d Shenzhen-based individuals and companies had \u201copened more than 35.94 million digital CNY wallets.\u201d<\/p>\n

This figure marks \u201can increase of 7.6 million\u201d wallets since the beginning of the year, the PBoC added.<\/p>\n

The city claims that \u201cmore than 2.1 million merchants\u201d based in the citywide now accept payment in the digital yuan.<\/p>\n

China\u2019s Shenzhen in CBDC Adoption Drive<\/h2>\n

The central bank claimed that the CBDC had now \u201cfound its way\u201d into \u201cthe homes of ordinary people.\u201d<\/p>\n

And the PBoC\u2019s Shenzhen branch claimed that it was now targeting more digital yuan adoption progress.<\/p>\n

It stated that it would look to \u201cpromote the application\u201d of the digital yuan in \u201cprepaid operations,\u201d as well as \u201csupply chain finance.\u201d<\/p>\n

The bank concluded that it would also seek to find new ways to drive up \u201ccross-border e-CNY spending\u201d between Shenzhen and Hong Kong.<\/p>\n

Further up the affluent Chinese East Coast, the city of Changzhou, in Jiangsu Province, last week announced it intends to give away $700,000 worth of digital yuan tokens and discount coupons before the year is out.<\/p>\n

Earlier this month, the PBoC said it had launched a SIM-card based CBDC wallet solution that can be used when phones have no network connection or are powered down.<\/p>\n

Also this month, the Chinese branch of the Singaporean megabank DBS said it had launched e-CNY services for its corporate clients.<\/p>\n<\/p><\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Chinese city of Shenzhen says its residents have opened almost 36 million digital yuan wallets, as the nation\u2019s central bank digital currency (CBDC) pilot breaks new ground. Per the Shanghai Securities News and the China Securities Network News, the claims were made by the Shenzhen branch of the central People\u2019s Bank of China (PBoC). […]<\/p>\n","protected":false},"author":1,"featured_media":37097,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-37096","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"\n36m Digital Yuan Wallets Now Open | iFintechWorld<\/title>\n<meta name=\"description\" content=\"The Chinese city of Shenzhen says its residents have opened almost 36 million digital yuan wallets, as the nation\u2019s central bank digital currency (CBDC)\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=37096\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"36m Digital Yuan Wallets Now 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