The debut of the official version of the CBDC application for digital yuan settlements resulted in the crypto wallet’s resounding success in the Chinese market.
After just one day of usage, the app surpassed WeChat as the most popular app in the Apple App Store. A wallet at the Xiaomi shop is accompanied by the same success (Android operating system). The CBDC application is ranked 43rd in the Huawei mobile store, slightly worse.
The PBoC Research Institute created the application. We released the completed product for Android and iOS last week. The program is available for download by anybody. However, it can only be used to make payments to authorized service providers.
In numerous major Chinese cities participating in the e-CNY trial, the wallet may be used to pay for products and services. Unfortunately, China intends to start accepting CBDC payments at the Winter Olympics next month, so there isn’t much time for the trial.