The digital yuan app is currently only available on Chinese app stores and only available in Chinese.īelow we answer some frequently asked questions about the e-CNY and the Chinese government’s intentions with the roll-out of the digital currency. This allows users of Alibaba’s food delivery app ele.me, grocery delivery app Hema Fresh, and e-commerce platforms Taobao and Tmall to pay for orders using the e-CNY – even though the digital currency is a direct competitor to Alibaba’s payment platform, Alipay. WeChat Pay and Alipay are well-liked, but the e-CNY is catching upĪt the beginning of this year, a People’s Bank of China official said that about one-fifth of the Chinese population had set up e-CNY wallets. In our latest representative survey on e-CNY uptake, Morning Consult finds that there are both challenges and opportunities ahead for widespread adoption of the world’s most advanced CBDC project. There is also much discussion taking place in policy circles over e-CNY adoption as a future challenge to U.S.ĭollar dominance as the e-CNY participates in pilot programs forcross-border transactions.
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