WeChat has become the second payment platform after Alipay to integrate support for the digital yuan digital wallet fast payment function. WeChat Pay will allow users to choose e-CNY as their payment method for services ranging from utility bills to ordering food. It is expected that in the future, the functionality of direct transactions in digital yuan between WeChat users will be launched on the WeChat Pay payment platform.
Shortly after the launch of the WeChat Pay update, the social platform WeChat reported that more than 1.2 billion users have gained access to the new form of payment for services, of which about 750 million use the application daily.
The digital yuan is being tested in 26 Chinese provinces, and at the beginning of the year, the People’s Bank of China (PBOC) announced the expansion of the geography of the pilot program for testing the state cryptocurrency and connecting 17 more provinces to it. The stated target for CBDC is that e-CNY transactions should reach more than 2 trillion yuan ($300 billion) by the end of the year.
Source: Bits

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