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China shows its cryptocurrency at an international consumer fair

China shows its cryptocurrency at an international consumer fair

Beijing, May 10 (Prensa Latina) China made progress in the use of its cryptocurrency after launching it at the first International Consumer Products Expo held in Hainan, which turned into a luxury good showcase, CGTN channel reported on Monday.
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CGTN informed that the Central Bank allowed that foreign participants in the event have the experience of making payments with the so-called digital yuan, which has been piloted already in several cities since mid-2020.

The bank also included seven commercial banks and e-commerce platforms, such as Eleme, Hema and Tmall Supermarket, in the tests, as well as launched the digital yuan mobile app.

The app allows users to make payments, withdraw and transfer money with their phone number.

According to experts, China’s cryptocurrency will have a system to contribute to the country’s growth and solve financial problems.


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