China Bank Launches “Cross-Strait Family” Digital RMB Hardware Wallet to Promote Financial Innovation
On January 18, 2024, during an innovative financial technology event held in Fuzhou, Fujian Province, China, the Bank of China launched the country’s first “Cross-Strait Family” digital RMB hardware wallet. This may bring a certain level of convenience to tourists who do not have a Chinese electronic payment wallet.
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Bank of China: Accelerating Cross-Strait Financial Integration, Enhancing Payment Convenience
Digital RMB Hardware Wallet
Providing More Convenience for Taiwanese People and Promoting Quality of Life Improvement
Looking to the Future, Promoting Financial Service Popularization and Convenience
Due to the geographical proximity and historical origins between Fujian and Taiwan, Bank of China Fujian Branch has been at the forefront of innovation in digital RMB application scenarios, enabling over 80% of merchants in Fuzhou to support digital RMB hardware wallet payments, thus enhancing the payment experience for Taiwanese visitors.
Bank of China’s First Release of “Cross-Strait Family” Digital RMB Hardware Wallet
The “hardware wallet” is a new type of hardware for digital RMB, similar to a stored-value card, storing the national legal currency of China. Bank of China stated that this technology not only embodies security but also cleverly combines cultural elements such as the Chinese knot and the auspicious cloud character, incorporating iconic architectural designs from Fujian and Taiwan, highlighting the beautiful meaning of “Cross-Strait Family.”
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According to Bank of China staff, Taiwanese travelers coming to Fujian can easily apply for their exclusive digital RMB hardware wallet after entering the country, not only solving the problem of inconvenience in payment but also providing convenient subsidies for local Taiwanese residents and a certified carrier for government consumption red envelope distribution.
Bank of China Fujian Branch
stated that it will focus on meeting the daily payment needs of the public and continuously promote the popularization of digital RMB in Fujian. The goal is to cover various fields such as daily consumption, living expenses, transportation, education and healthcare, cultural and sports tourism, government affairs services, etc., promoting the convenience and popularization of financial services and further advancing the integration and development between Fujian and Taiwan.
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Bank of China
Digital RMB Hardware Wallet
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