The prototype of the e-CNY card for foreigners also has a small screen that shows the available balance of the hardware wallet and can be used in shops that have an e-CNY payment terminal. The card looks similar to the card-based digital yuan hardware wallet reported by The Block in January.

The idea is that overseas nationals with valid passports can put foreign banknotes into the machine, which will issue a physical e-CNY card based on the exchange rate. Indeed, Bank of China demonstrated a machine prototype for the first time during the summit, which can convert 16 foreign currencies into the e-CNY, according to business publication Yicai's report on Monday. the state-owned commercial banks and third-party payment providers like AliPay and WeChat Pay – that's rising up as they are geared towards seizing more market shares in the future. What's more, the developments spoke to the competition among the issuers of the digital yuan – i.e. The efforts signal that China is moving closer to a roll-out of the e-CNY. Not only did the PBoC host its own exhibition area to educate the public on the adoption of e-CNY, major state-owned commercial banks as well as technology giants like Alibaba's Ant Group, Tencent, JD.com and Huawei all set up booths to showcase their e-CNY wallet services. Bank of China, one of the 'big four' state-owned commercial banks, has showcased a machine prototype that's designed to let foreigners try out China's central bank digital currency.ĭuring the 4th Digital China Summit organized by several Chinese central government ministries over the weekend, the People's Bank of China (PBoC) made by far the most extensive demonstration of its work on the country's central bank digital yuan, known as e-CNY or DC/EP.

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