Wichat, with a billion users, adopts the digital yuan

The social network and the largest online payment app in China joins the Ali-Pei payment service Already using the world’s first sovereign digital currency

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07.01.2022 12:22

Updated on: 09.01.2022 13:21 Payable in digital yuan, in Shanghai ALY SONG / Reuters

Wichat, China’s largest social network and online payment app, will adopt the digital yuan, also known as e-CNY, the first sovereign digital currency in history. China has been developing the digital yuan since 2014, and it is not yet available in the entire communist power. But Wichat’s move, reported on CNBC, could give it a huge boost once billions of users of the app start paying through it. The Wichat app, owned by the internet giant Tencent, combines a variety of services for its Chinese users, from the possibility of sending messages, through payments via Wichat Pay, to ordering taxis and food deliveries. Yesterday Wichat reported that in 2021 there were on average 450 million overactive users …

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