CBDC Wallet Becomes The Most Downloaded Mobile App In China

The official digital yuan wallet app that was released as a trial version to be used in limited cities of China has managed to top app store charts in its very 1st week.

The app is developed by the Digital Currency Research Institute of the People’s Bank of China (PBoC) and became available for download on Chinese Android and Apple app stores last Tuesday.

The CBDC app is still in an exploratory phase and is only within reach of select individuals through authorized e-CNY service providers. While anyone in the country could download the app, its usage is restricted to select cities.

Notwithstanding the aforementioned limitations, the South China Morning Post reported that e-CNY managed to become the most downloaded app on Apple’s App Store only one day after its launch, crossing past Tencent’s super app WeChat. In turn, it got dethroned by video-sharing app Kuaishou on Saturday.

It is to be noted that the app enjoyed identical success in Xiaomi’s mobile app store, a renowned platform for Chinese Android users. It topped the list within a day prior to falling to the 2nd position on Monday, as per market researcher Qimai. Besides, the app ranked 43rd on Huawei’s mobile store on Monday, bouncing ten spots in a day.