China’s pilot e-CNY wallet application, currently available in a dozen major cities, topped 16 million downloads in the first week after its launch, according to two data providers.
Fast facts
- Information from data provider Qimai shows more than two million Apple store downloads in mainland China, while another provider, Kuchuan, shows more than 14 million Android downloads in the country.
- On Monday, the e-CNY wallet app ranked second among free applications in mainland China’s Apple store, and first in the store’s financial category.
- The digital yuan app launched on Jan. 3. Previously it had been available only through private channels provided by banks participating in e-CNY trials.
- China’s central bank said in November that 140 million digital yuan wallets had been opened through these private channels.
- China’s digital yuan has been in development for seven years and is the most advanced central bank digital currency issued by a major world power.
- The digital yuan is widely expected to be officially launched during the Beijing Winter Olympics in February.