Large Chinese bank reveals digital yuan wallet

Some customers of the bank managed to sign in.

One of the largest banks in China – China Construction Bank (CCB) – has begun registering users of a wallet designed to conduct transactions with the national cryptocurrency of the PRC. Information about this appeared in the local media.

The offer to complete the registration appeared in the CCB application. A few hours later, access to the interface was disabled. Despite this, many clients of the financial institution managed to register and take screenshots of the program. The ability to create an account appeared for bank users in the regions where the authorities are testing the digital yuan. Representatives of CCB explained the shutdown of the service by saying that “it has not yet been officially launched.”

It is known that the wallet has four different configurations for users, which implies access to certain options, depending on the account indicators. In particular, they plan to divide the owners of the digital yuan by the volume of the balance. For example, for users of the fourth level, the annual limit on transactions will be 10 thousand yuan (about 108 million rubles).


Screenshot of the digital yuan section in the CCB app

According to media reports, each e-wallet will have its own identification number. Information about the user will be linked to it: name, password, mobile phone number, e-mail, bank card number, and other information.

China is currently testing digital yuan in commercial transactions. This step has become a necessary stage, which, in the opinion of local authorities, will allow them to see the real possibilities of the new financial instrument as close as possible to real conditions.

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