China’s central bank and its Digital Currency Research Institute have been working to support foreign visitors who want to use its central bank digital currency (CBDC) on the mainland. For example, they introduced support to enable Hong Kong visitors to top up their wallets using Hong Kong’s faster payment system.
Given that some stores are now reluctant to accept cash, the eCNY makes a viable alternative. This week the Digital Currency Research Institute issued a how-to guide for foreigners to use the digital RMB. That includes using the eCNY app or hardware wallets in the form of payment cards or wearables.
The mobile app lets visitors sign up with just their mobile phone number and supports 210 countries so far. To top up, users either link a Visa or Mastercard or visit a bank or kiosk.
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