- The first stage of WeChat Pay interoperability was completed early last year which allowed users to choose the digital yuan as a payment option when making in-store purchases.
Why it matters: The integration shows how quickly and easily a CBDC can be implemented in widely used applications.
- China’s recent launch and integration shows mass adoption is just around the corner once a CBDC is live.
- The U.S. is planning on launching its CBDC precursor FedNow in July and some worry that, once live, we could see accelerated implementation similar to China’s.