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Digital yuan given green light by Chinese tech giant

Chinese technology conglomerate Tencent has reportedly added support for digital yuan to its WeChat Pay wallet, granting users the option to pay using China’s central bank digital currency (CBDC).

To use the CBDC in transactions, WeChat users need to have already verified their identity via the e-CNY app, the digital yuan wallet application developed by the People’s Bank of China, China Daily reported on Thursday.

Digital yuan given green light by Chinese tech giant comes via ChinaTechNews.com.

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