Today Mu Changchun, the Director General of China’s central bank Digital Currency Research Institute, shared the latest statistics on the digital yuan trials during the Hong Kong Fintech Festival. The number of wallets opened has increased almost sevenfold since June to 140 million.
While the wallet figure is likely to approximate to the number of people, it’s conceivable that an individual could have multiple wallets, especially because a basic wallet only requires a phone number. If one assumes it is people, 10% of China’s population has tried the digital currency. The number of merchants capable of accepting the digital renminbi is 1.55 million.
Transactions have increased significantly, but in contrast to the number of wallets, the figure has only doubled.
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