Alipay is all set to allow its users to test China’s digital Yuan. This China’s e-payment giant allows some of its users to link their accounts to the countries digital Yuan app.
Mobile payment platform
Alipay is the Ant Group-owned mobile payment platform. It is encouraging its users to participate in the emerging digital yuan commerce ecosystem.
According to the China securities journal report, MYbank’s participation supported this new feature. In addition, it resulted in the Country’s expanded digital currency electronic payment testing protocol.
Furthermore, the news cements Ant Group’s participation in China’s Central Bank digital currency project. Moreover, MYbank is one of the largest internets only banks in the Country.
Ant Group confirmation
According to the CNBC statement, the Ant group confirmed its involvement in the digital yuan trials. Moreover, one of the participants is in the trial of the e-CNY.
Hence MYbank is steadily advancing the trial according to the overall arrangement of the POB of China. In association with MYbank, Ant Group will continue to support the research, development, and trial of the People Bank of China’s e-CNY.
Cointelegraph
Cointelegraph previously reported that Ant group has been collaborating with the POB on digital currencies since 2017. Moreover, the China Central bank is reportedly using the firm’s mobile app development environment to create digital your own linked apps.
