Seeking Alpha 2022-01-06 15:45:53

Tencent supports digital yuan payments through WeChat Pay

China-based Tencent Holdings (OTCPK:TCEHY) (OTCPK:TCTZF) adds digital yuan support to its proprietary mobile wallet WeChat Pay, according to China Daily. WeChat users now have the ability to transact with China's central bank digital currency through a newly-added access point embedded in WeChat Pay - Tencent's instant-messaging app, the report says. Note that users' identities must already be verified using the digital yuan wallet app. Additionally, the company said it will explore digital yuan payment experiences in the Winter Olympic Village, which opens on Jan. 27, China Daily notes. Recall at about the same time last year, (NASDAQ:JD) said it will accept digital yuan as payment for some products on its online mall. Meanwhile, shares of Tencent gain 1.5% intra-day. Previously, (Aug. 7, 2020) The White House targeted Tencent's WeChat.

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