Hong Kong Monetary Authority Announces Availability of E-CNY Wallet App

According to Odaily, the Hong Kong Monetary Authority (HKMA) has announced that users can now download and install the digital yuan wallet app, known as e-CNY, from their smartphone app stores. The app can be topped up with yuan via 17 retail banks in Hong Kong, some of which offer real-time exchange services. This allows customers to directly convert Hong Kong dollars into digital yuan, with the exchange rate displayed in real time for reference. Hong Kong residents only need to register with a Hong Kong phone number to open a digital yuan wallet in real time. There is no need for real-name registration or to open a mainland bank account. The wallet can be topped up via the Faster Payment System (FPS). Currently, the pilot program supports four types of personal wallets that Hong Kong users can open. These wallets can be used for retail payments, not only in the Greater Bay Area but also in other mainland pilot areas. However, they cannot be used for personal transfers.