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China’s central bank digital currency takes a bigger place on WeChat’s platform
source link: https://fintechranking.com/2023/04/26/chinas-central-bank-digital-currency-takes-a-bigger-place-on-wechats-platform/
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China’s central bank digital currency takes a bigger place on WeChat’s platform
For the last few years, China’s central bank has been trying to ramp up the adoption of digital yuan, or e-CNY, which forms part of the country’s monetary base, M0. The bank has a designated app for e-CNY that crossed 261 million individual users in early 2022, but it’s also enlisting help from the private sector to take its official digital money to a broader user base.
China’s biggest messenger WeChat said Wednesday that it’s extended the use of e-CNY payments to transactions happening through its short video and mini-app platforms, which together cover merchants from small influencers to brands touting products on WeChat.
Read more: TechCrunch
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