A Chinese state bank has launched digital yuan ATM machines.
Agricultural Bank of China(Agricultural Bank of China) has launched a pilot program whereby citizens can convert fiat to digital yuan and vice versa.
Bank customers from Shenzhen will be able to usenew ATMs in order to withdraw and deposit funds using a mobile application. In the application itself, users will be able to convert money into digital yuan.
Agricultural Bank of China is one of the “Big Four” Chinese state-owned banks. The bank's innovation manager said:
The Agricultural Bank has launched a new ATM feature that will allow residents to become more familiar with the concept of the digital yuan and explore its possibilities.
China– one of the first countries to announce the creation of its own CBDC. According to the Chinese government, the national digital currency is ready and is undergoing the final stages of testing.
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Based on materialscointelegraph.com
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