The Financial institution of China, certainly one of China’s largest state-owned banks, is at the moment conducting trials for a brand new offline cost system that connects to SIM playing cards. This cost methodology is designed particularly for the digital yuan, the digital forex of China’s central financial institution (CBDC).
July 10 announcement revealed the financial institution’s partnership with telecom carriers China Telecom (NYSE:) and China Unicom (NYSE:), and its intention to start testing the following day.
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