Six Major Chinese state banks are seriously promoting the digital yuan in Shanghai as a much higher means of payment to both Alipay and WeChat Pay,

China’s major payment providers, as the online shopping festival on May 5 approaches.

The banks are encouraging retail outlets and customers to download the digital wallet and buy products using the CBDC, or e-CNY as a more convenient payment option over Alipay and WeChat Pay.

Author: mBRzeVZxHo

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