Chinese bank launches the digital wallet of its CBDC

One of China’s leading banks, China Construction Bank (CCB), launched the digital wallet of its own CBDC. It should be noted that, although the bank was very discreet, its users noticed it immediately. As a result, the new service received great attention.

Services provided

According to the agreement between the Corona Millionaire user and the bank, the services provided by the digital wallet in renminbi include payment, exchange, transfer and credit card recharge. In addition, there are four levels of the digital wallet, with variable balance and payment limits.

At the same time, CCB’s renminbi wallet screen shows the wallet’s identification and current balance. In addition, a balance limit of 500,000 yuan, a single payment limit of 50,000 yuan, a daily cumulative payment limit of 100,000 yuan and an annual cumulative payment limit of 500,000 yuan.

Similarly, the second level of the digital wallet in renminbi has a cumulative annual payment limit of 300,000 yuan, the third 50,000 yuan and the fourth 10,000 yuan.

Basically, the bank issues each digital wallet from its CBDC with a unique identification number, linked to the customer’s information. This includes your name, password, cell phone number, e-mail address, customer number and bank card number.

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Launch of the digital wallet of your CBDC
Indeed, around noon on August 29, local time, users at China Construction Bank (CCB), one of the country’s largest state-owned banks, noticed that their bank’s mobile application had a new feature, a wallet for the CBDC.

Under these circumstances, some users were able to perform small amounts of transactions by linking their CCB bank accounts to the digital wallet.

However, hours later, the function in the application was disabled, due to the great attention it received.

As a result, it was reported that many Wechat users were able to register for the wallet. All this during the few hours it was available. They also published screenshots of the activation and reloading pages of the wallet.