(ECNS) -- Digital RMB was unveiled at the first China International Consumer Products Expo in Haikou, capital of south China's Hainan Province on Thursday.
The Hainan Branch of the Bank of China set up a digital RMB area for visitors to experience digital payments.
Hainan became the second batch of pilot areas for digital RMB use at the end of 2020. Visitors can have the first taste of various types of software and hardware wallet products at this Expo.
They are allowed to use digital RMB in multiple scenarios covering Beijing 2021 Winter Olympics, cross-border finance, smart livelihoods and so on through entertainment facilities like egg twisters, coffee machines, vending machines, and digital RMB exchange machines.
The digital RMB wallet for Beijing 2021 Winter Olympics scenario with a visible chip can display consumption amount and wallet balance. It also features anonymity and small amounts.
It is convenient for the elderly, children and foreign tourists and has been highly recommended to foreign tourists in the Winter Olympics scenario.
Foreign currencies can be exchanged for digital RMB wallets for consumption at the Expo.
According to a Bank of China staff member, 17 foreign currencies including the U.S. dollar and British pound can be exchanged for the above-mentioned digital RMB wallet at the exhibition hall.
The digital wallet is also available at Hainan Travel Duty Free shop (dual offline payment) in No. 5 exhibition hall as well as Hilton and Shangri-La hotels providing catering services in No. 6 exhibition hall.