The Agricultural Bank of China (ABC), one of China’s “big four” banks, is embarking on a pilot program to enable the first digital yuan ATMs. The banking institution deployed the first machines in selected branches in Shenzhen.
ATMs Will Work With a Smartphone App
According to SZ News, the program is part of the ongoing second digital yuan trial, consisting of a giveaway of 200 yuan ($31) to 100,000 residents.
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The ATMs enable the possibility to deposit and withdrawal the digital yuan via a smartphone app. The pilot program’s mobile app allows customers to convert cash and savings to and from the token.
As the digital yuan pilot programs keep underway across the country, it’s not surprising that the ABC is testing the digital yuan ATMs. In fact, the bank is a partner of the People’s Bank of China (PBoC).
Zou Hua, manager of the bank’s Digital Yuan Innovation Lab, commented on the ATMs infrastructure’s deployment across Shenzhen: