Chinese consumers in the 23 cities and regions piloting the country’s central bank digital currency (CBDC) can now automatically transfer funds to their digital yuan wallet app whenever their balance runs low, removing the need to manually top up the balance in their e-yuan app.
The app can automatically draw amounts from a linked account at a commercial bank when the e-yuan wallet’s balance is not enough, Yiicai Global reports. Users also have the option not to link the app to a bank account.
Digital yuan issued by the People’s Bank of China is worth the same as physical notes and coins of the same value. And like notes and coins, amounts held in the e-yuan wallet do not accrue interest.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
