China’s central bank has launched a pilot version of its digital wallet which will house the country’s digital yuan currency in a bid to increase the usage to more people.
Currently the app is available on China’s Android and Apple app stores and allows users to open a digital yuan wallet and spend the currency.
The currency is a digital version of the sovereign currency of the country and has actually been around since 2014.
It is worth noting that while the currency is digital it is not a cryptocurrency, it is just controlled and issued by the People’s Bank of China.
