One of China's Largest Banks launches Digital Yuan ATM
ABC Sign

One of China's Largest Banks launches Digital Yuan ATM

By Keith Thuerk | New to Crypto's? | 12 Jan 2021


One of China's Largest Banks launches Digital Yuan ATM

 

Who?- The Agricultural Bank of China (ABC), one of China’s “big four” banks, launched a pilot program to enable the first digital yuan ATMs. The banking institution deployed the first machines in selected branches in Shenzhen, China.  In fact, the bank is a partner of the People’s Bank of China (PBoC).

Care to learn more about ABC bank? Check here http://www.abchina.com/cn/ - Good luck unless you know Mandrin

What - the program is part of the ongoing second digital yuan trial, consisting of a giveaway of 200 yuan ($31) to 100,000 residents. Additionally, the ATMs enable deposits and withdrawals the digital yuan via a smartphone app. The pilot program’s mobile app allows customers to convert cash and savings to and from the token.

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Additionally, HSBC Started Blocking Transactions From Crypto Exchanges on 1/1/21 - hmm, are they smashing everything but the Yuan CDBC coin ?

 

Summary - Interesting times to have your head in the news!

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Keith Thuerk
Keith Thuerk

Currently learning about Crypto's and DeFi to combat the Inflationary Tidal wave coming our way!


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