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Alibaba and Tencent first to start to adopt a national cryptocurrency of China

The people’s Bank of China will provide access to their digital currency, Alibaba, Tencent, Union Pay, and also the largest banks in the country, according to Forbes, citing sources in financial institutions.

According to the interlocutor Forbes, associated with the development of a national digital currency, during the launch phase, seven organizations will be able to access the new asset. In addition, eight other unnamed agencies can access the list of recipients of the first stage.

It is reported that the launch of a national digital currency can occur until 11 November, when China celebrates the day of the bachelor and carried out widespread sales.

Earlier in August, Deputy Director of the division of payment and settlement solutions to people’s Bank of China Changchun Mu saidthat the prototype issued by the Central Bank of digital currency (CBDC) already exists, and the research group on digital money completely worked for her blockchain architecture.

Currency will be based only on the blockchain, as this may prevent it spreading in retail payments, said the official.

According to sources, the people’s Bank of China hopes that over time the digital currency will be used in the United States and other Western countries.

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