Digital yuan will be stored in hardware wallets

China Construction Bank (CCB), the largest commercial bank in China, will present a hardware device that will allow storing large amounts in digital yuan.

According to CoinDesk, the hardware wallet will allow you to store large amounts of digital RMB without an internet connection. Apparently, the device will be activated at the request of the client at the bank counter or in a digital channel to transfer cryptocurrency. Note that hardware wallets will be available for tracking, and personal data must be provided to activate them. It is currently unknown what restrictions will apply to tier 1 wallets.

The second tier wallet will allow you to deposit up to 10 thousand yuan, and the limit for one transaction for it will be 5 thousand yuan. It will not be possible to spend more than 10 thousand yuan from such a device per day, and 300 thousand yuan per year. It is also unknown what the level of the wallet will depend on.

Previously, all four state-owned largest commercial banks – Bank of China, Agricultural Bank of China, Industrial and Commercial Bank of China and China Construction Bank – confirmed participation in the digital yuan trials.

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