TechFlow news, according to the 21st Century Business Herald, several personnel from major state-owned banks said that large-scale testing of digital wallet applications is currently underway in Shenzhen and other locations, preparing for the official rollout of the central bank digital currency.
Led by the central bank, various banks have been testing implementation scenarios for the digital currency over recent months. Currently, some employees within these major banks have already started using it for transactions such as fund transfers and bill payments.
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