Digital Yuan wallet tests have started in China. Large-scale tests are carried out in the studies initiated by the state banks in China.
Digital Yuan wallet studies in China
The Chinese government, which has an opposing attitude towards cryptocurrencies in the first place, is carrying out projects for digital currencies. The Chinese government has even begun to take concrete steps, especially for the Digital Yuan.
According to the information shared by Reuters, a group of state-owned commercial banks in China have started testing for this national currency. Allegedly designed for the national currency Digital Yuan, the wallet is being tested on a large scale. With the wallet developed for the Digital Yuan, large-scale tests are carried out for money transfers and payments. These tests will begin in densely populated areas such as Shenzhen.
China, one of the most stringent countries in the world with its crypto money legislation, continues to lead the world in national digital currency development. In fact, pilot tests, which started pilot tests in regions such as Shenzhen and Chengdu in April, will be taken one step further with the digital wallet. Within the scope of these tests, China aims to eliminate the shortcomings in the digital currency and make it easier to use as much as possible.