ATM’s in the Chinese capital of Beijing have started to offer services in relation to China’s new central bank digital currency (CBDC), better known as the Digital Renminbi.
Industrial and Commercial Bank of China’s (ICBC) more than 3000 ATM’s in Beijing now offer Digital Renminbi and cash exchange functions, according to a report from Jiemian.
The move makes ICBC the first bank to bring Digital Renminbi and cash exchange functions to all of its ATM’s in the Chinese capital.
Agricultural Bank of China (ABC) has also followed suit to a less extent, with around a dozen of its ATM’s in the Wangfujing retail district providing Digital Renminbi and cash exchange services.
The Chinese central bank first announced the launch of official testing of the Digital Renminbi in April 2020, at several cities around China including Chengdu, Shenzhen and Suzhou.