New wave?140 million digital RMB wallets have been opened: the transaction volume is nearly 62 billion

In the near future, the digital renminbi may be popularized to thousands of households. In the “2021 Hong Kong Fintech Week” on November 3, Mu Changchun, director of the Digital Currency Research Institute of the People’s Bank of China, introduced that as of October 22, 2021, 140 million digital RMB personal wallets and 1,000 corporate wallets have been opened. 10,000, the cumulative number of transactions reached 150 million, and the transaction volume was close to 62 billion yuan.

New wave?140 million digital RMB wallets have been opened: the transaction volume is nearly 62 billion

Beginning at the end of 2019, the People’s Bank of China has carried out digital RMB pilots in Shenzhen, Suzhou, Xiong’an, Chengdu and the 2022 Beijing Winter Olympics. Shanghai, Hainan, Changsha, Xi’an, Qingdao and Dalian will join the pilot in November 2020. Today, 1.55 million merchants support digital RMB wallets, covering public utilities, catering services, transportation, shopping and government affairs.

Although the digital renminbi is also a new payment method, it is still very different from Alipay and WeChat. The digital renminbi is the Electronic version of the renminbi. Its functional attributes are exactly the same as those of paper currency, and it has the legal effect of the country. Alipay WeChat is only a third-party payment platform, and it only circulates a “virtual currency” equivalent to RMB. And when paying with digital renminbi, you can pay without an internet connection. At present, the pilot process of the digital renminbi is gratifying. The latest draft revision of the Banking Law has included the content of the digital renminbi. In the future, there is no need to carry a wallet, and the scene of “one mobile phone to travel the world” is getting closer and closer to our lives.

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