China's digital RMB trial expands to include first private bank

A payment terminal for digital RMB is exhibited at the China International Consumer Products Expo in Haikou, Hainan province, on Saturday. [Photo/Xinhua]

CHINA, May 11, China Daily/ANN - China's digital RMB trial has for the first time included a privately owned bank, indicating a further expansion of applications and the country's firm attitude in driving the pilot program, analysts said.

Zhejiang E-Commerce Bank Co Ltd, which is based in Hangzhou, Zhejiang province, became the seventh bank in China to offer the testing of central bank digital currency, or e-CNY. Users can now download a digital wallet through a designated app.