China’s Wechat Adds Support for Digital Yuan Payments

China’s Wechat Adds Support for Digital Yuan Payments

Chinese social media platform Wechat has introduced support for the state-backed digital yuan in its popular payment app. Over a billion users will now ostensibly be able to take advantage of fast payments with the digital currency issued by the People’s Bank of China.

Wechat Pay Follows Alipay in Integrating Payments With Digital Yuan

The largest Chinese social network and instant messenger, Wechat, has added China’s central bank digital currency (CBDC) to its payment application, Wechat Pay, with its latest update, the local news outlet The Paper reported.

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More than 1.2 billion users will have access to the new feature and be able to spend digital yuan (e-CNY) to pay for goods, services, and utility bills in some widgets with more use cases planned for

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