Chinese-State Owned Bank Reportedly Trialing Test Interface For CBDC

The Agricultural Bank of China (ABC) is trialing a test interface for China’s central bank digital currency (CBDC).

Screenshots of a pilot version of a mobile application developed by the ABC is seen circulating on social media. It shows the bank has already developed a front-end interface of how users could potentially interact with China’s CBDC.

Ling Zhang, executive director of M&A, Global Fiat, at cryptocurrency exchange Binance first shared the images on April 14


Seems that testing wallet app is available for download. 4 cities will be available for the trial to begin with, including Shenzhen, Chengdu, Suzhou and Xiongan. Interesting that Xiongan, the newly state-level new area is one the first batch of the trails cities. #DC/EP pic.twitter.com/960poROFIo — Ling Zhang (@lingzh1220) April 14, 2020

According to Ling Zhang, the app is available for download in four cities selected for the initial trial:

  1. Shenzhen

  2. Chengdu

  3. Suzhou

  4. Xiongan

The testing application, is also available for download on iOS and Android mobile devices via a site on ABC’s domain.

It offers a peek into the features that will be offered through a DE/CP wallet, including paying via a QR code, receiving and sending payments and initiating transactions by touching another user’s phone.

The application also offers users a registration option. However, the registration function is currently in test mode as it only allows whitelisted users to complete the registration process.

Source: CoinDesk | Pixabay

#cbdc #shenzhen #DigitalYuan #china #PBoC #DigitalCurrency

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