The Digital Yuan App Launched in Apple, Android & Huawei App Stores

Digital Yuan App


The Digital Yuan App is now available on Apple, Android, Huawei and several other domestic app stores. The app was developed to assist users in storing and making payments with Digital Yuan easily and securely.


While it is important to note that the Digital Yuan (also known as E-CNY) is not a cryptocurrency, the launch most certainly is setting the stage for the future of monetary transactions. On the 4th of January 2022, the People’s Bank of China released the Digital Yuan app, quickly becoming the most downloaded free app on the iOS app gallery by the 8th of January. It stayed there for five consecutive days. Before this, E-CNY wallets could only be opened through select banks. The app has been downloaded by 261 Million individual users since its release, as evident on Huawei, Xiaomi, Oppo, and Vivo app stores.


Currently, E-CNY has only been rolled out in 10 major cities. Among them are Shanghai, Shenzhen and the 2022 Winter Olympics site. Foreigners can sign up for a Digital Yuan account using their passport and phone number. They may also convert foreign currency to E-CNY through their account. The Olympics will most certainly provide the grounds for an appropriate introduction to E-CNY as a fast, easy, and secure method of payment.


E-CNY is essentially the digital version of physical Renminbi and is bound to become the number one mode of retail transactions within China. The Digital Yuan App currently supports payment with nearly 50 businesses and platforms such as Tencent Video, JD.com, Baidu, Tmall Supermarket, SF Express, Didi Chuxing, Meituan, and the State Grid App.


At the moment, most digital transactions within China happen over AliPay or WeChat. However , in the future, the Chinese Government may establish E-CNY as the preferred mode of payment for utilities, medical bills, and more. As evident from the enthusiasm for the Digital Yuan App across several of the largest App galleries, we are witnessing the early stages of a successful transition to a digital currency within China. As evident from the enthusiasm for the Digital Yuan App across several of the largest App galleries, we are witnessing the early stages of a successful transition to a digital currency within China.


The E-CNY app is still in running in its test phase, and users may experience changes to it in the future.