On January 18, 2024, during an innovative financial technology event held in Fuzhou, Fujian Province, China, Bank of China released the country’s first “Cross-Strait Family” digital RMB hardware wallet. This could bring a certain degree 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, Promoting Quality of Life Improvement
Looking to the future, promoting the popularization and convenience of financial services
Due to the geographical proximity and historical origins between Fujian and Taiwan, Bank of China’s Fujian Provincial Branch, as a pioneer, has continuously innovated in the application scenarios of digital RMB, enabling over 80% of merchants in Fuzhou to support digital RMB hardware wallet payments, improving the payment experience of Taiwanese visitors to Fujian.
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Bank of China Launches the “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 the technology not only embodies security but also cleverly combines cultural elements such as Chinese knots and auspicious clouds, as well as 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 visiting Fujian can easily apply for their exclusive digital RMB hardware wallet after entering the country. This not only solves the problem of inconvenient payment but also provides a convenient carrier for local Taiwanese residents to receive subsidies and government consumption red envelopes.
Bank of China Fujian Provincial Branch stated that it will be oriented towards meeting the daily payment needs of the public and continuously promote the popularization of digital RMB in Fujian. The goal is to cover various areas such as daily consumption, living expenses, transportation, education, healthcare, cultural and sports tourism, and government services, promoting the convenience and popularization of financial services, and further advancing the integration and development of Fujian and Taiwan.
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Bank of China
Digital RMB Hardware Wallet
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