WeChat says you can now make payments using CBDC

  • 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.

Learn more here.