China’s CBDC is coming to WeChat, the country’s largest messaging app.
It is stated that the China-based application WeChat Pay will start to support e-CNY. The application has more than one billion users. This means that the use of the digital yuan could increase significantly.
WeChat Accepts Digital Yuan Payments
Messaging and mobile payment app WeChat Pay will start supporting the digital yuan, CNBC reported. As the app has 1.2 billion users, CBDC usage is expected to increase rapidly.
Alipay, WeChat’s biggest competitor in China, is focused on the digital yuan issue. The company began trials for adoption.
On the subject, Consultancy Trivium China Analyst Linghao Bao stated that the Chinese are very dependent on the two companies and therefore do not want to use a new mobile application: