WeChat has moved to support the development of China’s CBDC, adding a payment method using the digital yuan, e-CNY.
- WeChat is currently the largest social network in China and is expanding to more than 200 countries with 900 million individual users. With the strong development of WeChat today, this action of “tycoon” has brought the value of e-CNY to the world.
- WeChat Pay wallet has over 3 billion users per quarter and allows users to use e-CNY to make payments, such as ordering fast food or topping up some mobile games connected with this platform.
See Related: Ripple In Talks With Over 20 Central Banks For CBDC Development, Says Senior VP
- The combination of WeChat and e-CNY makes adopting a CBDC currency easier for consumers. On the other hand, it raises the awareness of the Chinese people about the potential and convenience of cryptocurrencies in the future.
- In terms of investment, WeChat has made a significant impact on the Chinese market. It can be seen that this is a good opportunity to proceed with building a new trading system that focuses on cryptocurrencies.
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