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
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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
