China’s southern tech hub of Shenzhen concluded the country’s largest test of the sovereign digital currency this month after giving out 10 million yuan in red packets. Photo: Bloomberg
China’s digital currency will not compete with mobile payment apps WeChat and Alipay, says programme head
- Currency issued through DCEP can be used in mobile wallets like WeChat Pay, says Mu Changchun, head of the central bank’s digital currency research institute
- The People’s Bank of China has already found counterfeit digital yuan wallets, Mu says
China’s southern tech hub of Shenzhen concluded the country’s largest test of the sovereign digital currency this month after giving out 10 million yuan in red packets. Photo: Bloomberg
