A Chinese banking institution has completed the development of a hardware portfolio for the country’s central bank’s digital currency, the digital yuan.

According to a February 7 statement from the Xiong’an authorities, the Xiongyang branch of the China Agricultural Bank in Hebei has released the first equipment portfolio used in digital yuan. This product was developed by Xiungan New District Party Work Committee and Shijiazhuang Branch of the People’s Bank of China.

The new areas in China are urban areas that the government provides with special financial support. It is divided into state, county and district levels. Shungan is a new nationwide area.

According to the announcement, the new hardware wallet supports double offline payment. The RMB e-wallet also supports non-mobile payments.

A new portfolio of digital yuan equipment is arriving in conjunction with the upcoming New Year holidays in China, providing an extra opportunity for locals. The new hardware wallet reportedly allows users to send gifts to their family and friends to express their New Year’s wishes.

The wallet marks another milestone in the adoption of the digital yuan in China. As previously reported, Xiong’an was one of the first four regions to host the Chinese CBDC experiment in April 2020. The launch of the portfolio in Xiong’an New District is in line with China’s plan to accelerate the construction of a new smart city . and Xiong. New microdistrict 2021.

In late 2020, technology giant Huawei announced that the upcoming Mate40 series of smartphones will have an integrated digital yuan hardware portfolio.

Source: CoinTelegraph