Tencent, China’s technology giant conglomerate has reported that it will allow its users to pay using its instant messaging app WeChat Pay wallet in digital yuan, the central bank’s digital currency (CBDC) of China.
As per Tencent China Daily’s report, before the CBDC transaction, users must verify their identity via the digital yuan wallet application e-CNY, developed by Chinese People’s Bank. The check will activate the option to pay and receive digital currency in WeChat.
Beijing, in its CBDC rollout, launched e-CNY earlier this week. While WeChat which is also called a super app due to its integration of wide range of services, has more than a billion users.
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