Central Bank of China: Digital Yuan Appears in WeChat and Alipay

The digital currency from the People’s Bank of China will appear in WeChat and Alipay payment systems. You can use it without the Internet. This was reported by Reuters with reference to the deputy head of the payment unit of the People’s Bank of China (NBK) Mu Changchun.

Development should protect the country's monetary sovereignty and renminbi status and partially replace paper money. Some mechanisms will be similar to Facebook's Libra, Changchun emphasized.

The official added that corporate digital currencies are unsafe, as there is always the possibility of bankruptcy.

It was Changchun that announced the imminent launch of the digital renminbi in early August, saying that five years of work on it had come to an end.

Recall that later, Chinese state media denied information about the launch in November.

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