Today multiple news outlets reported that the state-owned Agricultural Bank of China (ABC) enabled ATMs to support China’s digital RMB trials, including for deposits and withdrawals. The functionality being trialed for the digital yuan or eCNY is gradually expanding, and various tests have included offline payments, wearable devices and card-based wallets. And outlets supporting the digital RMB have expanded beyond restaurants and stores to include mobile phone top-up and metro card payments.
In Shenzhen, China is currently conducting its third mass digital RMB giveaway of 200 yuan ($31) to 100,000 people. Shenzhen was also the location of the first giveaway to 50,000 people in October, with the second following in December in Suzhou for 100,000 citizens.
ABC has launched a digital renminbi innovation lab, where it developed the ATM functionality. Fellow state-owned China Construction Bank also established a “Product Innovation Laboratory (Shenzhen)”.
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