China’s Construction Bank (CCB), which is one of the largest banks in China, will present a hardware device that will allow storing large volumes of digital yuan.
A currently developed and tested hardware wallet will give its owners the opportunity to store and operate large quantities of digital yuan without an internet connection. Apparently, the device will be activated at a request of the client at the bank counter or using an online communication channel to transfer cryptocurrency. Note that hardware wallets will be available for tracking, and personal data must be provided to activate them.
It is currently unknown what restrictions will apply to tier 1 wallets. The second-tier wallet will allow you to deposit up to 10 thousand yuan, and the limit for one transaction for it will be 5 thousand yuan. It will not be possible to spend more than 10 thousand yuan from such a device per day, and 300 thousand yuan per year. It is also unknown what the tier of the wallet will depend on.
Previously, all four state-owned major commercial banks – the Industrial and Commercial Bank, the Construction Bank, the Agricultural Bank, and the Bank of China itself – have acknowledged their participation in the digital yuan trials.
