China is pushing the digital yuan as the main alternative to cryptocurrencies
The figure may seem little but is significantly higher from the roughly 20 million wallets reported back in June here. The digital yuan was rolled out to users as part of government-led trials since last year and with wider adoption anticipated over time.
There is still a long way to go but as China looks to clamp down more on cryptocurrencies in general, expect them to push forward with a stronger agenda in promoting the use of the digital yuan among the public.
At the same time, one can expect more barriers to be put up against the likes of Alipay and WeChat pay - which we are already seeing here.
