Alipay is prepared to let several of its users use the Chinese digital yuan, announcing a hookup between its app and the digital yuan wallets.
The Ant Group-owned mobile payment platform confirmed that the trial would let some of its users to access the digital yuan in anticipation of the ecosystem that will be built around the digital currency.
MYbank, one of the top internet-only banks in China, which is also owned mostly by Ant Group, is responsible for this being possible.
Ant Group declared: “As one of the participants in the trial of the e-CNY, Ant Group’s associate MYbank will steadily advance the trial pursuant to the overall arrangement of the People’s Bank of China. Ant Group, together with MYbank, will also continue to support the research, development, and trial of PBOC’s e-CNY.”
Ant Group has been an ally for the central bank in its trial of creating a CBDC.