Tencent’s WeBank Accesses Digital RMB

China’s central bank has recently released the pilot version of an app for e-CNY, the country’s official digital currency, on the Apple and Android app stores. Furthermore, the digital RMB wallet of WeBank was also launched. After the multi-stage controllable pilot, Tencent began to provide users with digital RMB services.

Users can access digital RMB payment directly through the app, as well as through WeChat Pay, following real-name verification. Users can pay with digital RMB conveniently by scanning QR codes through WeChat.

The Beijing Winter Olympic Village is scheduled to open on January 27, where the digital RMB will undergo limited pilot tests. Tencent will further explore the innovative payment method to help the Winter Olympics run smoothly.

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In April last year, Tencent disclosed the phased progress of e-CNY for the first time, saying that since February 2018, Tencent has deeply participated in design, research and development, operations and other links of the digital RMB project.