An official of the People’s Bank of China (PBOC) stated that China’s central bank digital currency (CBDC) would act as a backup for major players in the mobile payment sector like Alibaba’s Alipay and Tencent’s WeChat Pay. Digital Yuan to Ensure Financial Stability According to the South China Morning Post on Friday (Mar 26, 2021),
Source and More information: China’s CBDC to Provide Backup for Alipay and WeChat Pay
Author: BTCManager.com
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