Large-scale testing of the digital yuan in China continues to gain traction, with some financial institutions joining the process and spearheading the creation of hardware digital wallets for the forthcoming central bank digital currency.
As reported by the Xinhua News Agency, the Postal Savings Bank of China has developed a biometric hardware stand-alone wallet for the venture. It allows you to verify the identity of users using the fingerprint sensors on the card.
The bank stressed that the hardware wallet is currently at the examination phase, and it can be used separately from smartphones:
“This card makes it much more convenient to get in and out of public places, and you can also pay with a single touch. This is particularly useful for older people who find it difficult to use smartphones.”
Earlier, the Xingang branch of the Agricultural Bank of China likewise created a hardware wallet designated exclusively for the digital yuan.
The bank also launched a pilot program using an ATM network, enabling citizens to convert cash to digital yuan.
