Huawei integrates digital yuan into HarmonyOS NEXT for up to 1 billion users TradingView News

Chinese telecommunications company Huawei is integrating the central bank digital currency (CBDC) digital yuan into its HarmonyOS NEXT operating system, according to local press. The integration will make the digital currency more accessible and easier to use for up to 1 billion smartphone owners.

Improvement of payment options

The HarmonyOS NEXT operating system, also known as HarmonyOS 5.0 upgrade, was introduced on October 22. It is the third Hauwei operating system and the first that it developed itself.

It is also the third most popular operating system in the world, after Android and iOS. Unlike previous versions, HarmonyOS NEXT only hosts apps native to HarmonyOS.

Huawei developed HarmonyOS after Google banned the company in 2019 after the US government imposed sanctions on the company. HarmonyOS was first used in smart televisions and smartwatches and reached phones in 2021. Plans were then made to integrate the digital yuan.

Now that this has been done, users do not need to download the digital yuan app to use the CBDC. Wallet management services and interaction with other financial apps will continue to be improved. According to another source, the digital yuan will be further integrated into Internet of Things chips, modules, equipment and operating systems.

The integration will also provide the Peoples Bank of China with enhanced security and monitoring capabilities.

The digital yuan is coming full circle

The digital yuan is making slow, steady progress on many fronts. In recent days, a digital yuan event was held in Beijing to mark the 2024 China Science Fiction Conference.

The digital yuan also played a role in the city's Craft Beer Festival and the 2024 World Table Tennis Championships. Beijing residents own wallets worth 22.6 million digital yuan.

On October 29, the International Air Transport Association (IATA) announced that it would start accepting digital currencies. The digital yuan was selected first. China is one of the most advanced countries in the world in digital currency adoption, IATA senior vice president Muhammad Albakri said.

The digital yuan will be the 74th currency used by IATA when it starts accepting it before the end of the year.

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