The MyBank online bank will allow some clients to conduct transactions with the digital yuan (DCEP) in the Alipay app. According to the China Securities Journal.
This functionality will appear as part of MyBank’s participation in an expanded protocol pilot for digital yuan payments. The company confirmed the continuation of cooperation with the People’s Bank of China in this area.
The owner of AliPay, Ant Group, holds 30% in MyBank. As of the end of 2020, the lending institution serviced 35 million clients — 68% more than a year earlier.
Another participant in the trials — online bank WeBank of the Tencent Holdings — had not activated the bridge to DCEP for clients at the time of writing.
The tests also include six largest commercial banks, which have developed corresponding wallets.
In April 2021, ForkLog reported that Ant Group was ready to assist the regulator in creating a platform for the digital yuan.
Earlier, online retailer JD.com announced that it had begun paying salaries in DCEP and using it in interbank and commercial settlements.
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