News Snapshot:
WeChat, China’s largest messaging app and one of the country’s most popular payment services, will begin supporting the Chinese government’s digital currency. On January 6, 2021, Tencent announced that it will begin accepting digital yuan payments through its proprietary mobile wallet WeChat Pay, according to a local report. China has been developing a digital yuan since 2014, and it has yet to be implemented nationwide. If people start paying for goods and services with WeChat, which has over a billion users, it will give it a significant boost. WeChat’s huge user base and myriad of services wrapped up have earned...
