China’s large-scale digital yuan trials throughout numerous cities have reportedly seen significant development, following a few financial entities to build hardware wallets for the CBDC. 

Specifically, the Postal Savings Bank of China has reportedly been successful in designing a biometric hardware wallet for the project, which will provide a simplified method for identity verification, via fingerprint sensors on the card.

Beijing-based individuals who take part in the CBDC testing will reportedly have the ability to utilize the card to tap into healthcare services.

Per the Postal Savings Bank of China, the hardware wallet, despite still undergoing testing phases, was particularly built with a goal to offer simplicity in accessing the CBDC and healthcare services to the elderly, without the assistance from smartphones. 

“With this card, it is much more convenient to enter and exit public places, and you can pay with just one touch. It is especially suitable for the elderly who have difficulty using smartphones.”

The Postal Savings Bank of China has initiated their project of building physical wallet cards in January this year – which is a part of the hardware components needed for the digital yuan.

In February, the Xiong’an division of the Agricultural Bank of China reportedly also put in the work to roll out a digital yuan-focused hardware wallet. 

Chinese banks and financial establishments have reportedly positioned themselves in the center of the CBDC-associated developments. Aside from hardware wallets, the Agricultural Bank of China additionally rolled out an ATM pilot program, enabling conversion of cash to the digital yuan for individuals.