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Rich Turrin

Rich Turrin

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China’s Digital Yuan App Goes Live in Trial Cities!

January 27, 2022 by Rich Turrin

Great discussing the recent launch of China’s new digital yuan app with Forkast.News!   The app launched and promptly went number one in China’s app stores for about a week!

This is a great vote of confidence for the new e-CNY.   Still, there aren’t a lot of places to use the e-CNY so be patient for broader adoption!

 

“Digital yuan use during the trial period will likely have a slow but steady uptake in China as people already have access to great digital payment through the payment platforms,” Richard Turrin, a Shanghai-based fintech consultant who’s published “Cashless: China’s Digital Currency Revolution,” told Forkast.News.

 

“It is important to understand that these are trials and not all stores accept the e-CNY yet, so people will be hesitant to switch,” Turrin said, adding that once the e-CNY system goes live throughout the country, one can expect steady growth in part generated by payments for salary, transportation and social services. “Eventually salaries will be paid in e-CNY as shown by the trials JD.com has already carried out,” he added.

 

Link to full article:

China’s digital yuan app now publicly accessible, one step closer to launch

 

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Rich Turrin

About Rich Turrin

Rich Turrin is the international best-selling author of “Cashless – China’s Digital Currency Revolution” and “Innovation Lab Excellence.” He is an Onalytica Top 100 Fintech Influencer and an award-winning executive previously heading fintech teams at IBM following a twenty-year career in investment banking. Rich is a leading media commentator and advisor on China’s digital currency and tech scene. Living in Shanghai for more than a decade, Rich experienced China going cashless first-hand.

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