July 23, 2024
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China Unicom, China’s largest telecommunications company, now takes digital yuan for phone bills

China’s No. 3 telecoms company has begun taking digital yuan payment for phone bills on its app. Thereby, marking the latest large company to support the country’s fledgling central bank digital currency (CBDC) operations.

Customers of China Unicom have had the option of paying using digital yuan, commonly known as e-CNY. That’s, via the company’s app since earlier this week.

With 306 million users, China Unicom is one of the country’s three state-owned telecoms behemoths.

Since 2014, China has been building the digital yuan, the most modern CBDC ever released by a major world power.

As part of an extended soft launch of the digital currency. Then, the government now has over 140 million personal digital yuan wallets in circulation.

The digital money is set to be a high-profile exhibit at the next Beijing Winter Olympics in February.

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