The Chinese company launched a product for insurance of digital yuan wallets – Bits Media

SwitchingE, China Pacific Insurance Insurance Company, together with Bank of Communications, announced the launch of the account insurance product in the digital currency of the Central Bank.

The China Pacific Insurance team claims, that the insurance product will expand the options for using digital yuan and guarantee the safety of the wallet. To launch a new product, the city of Sunzhou was chosen, insofar as 30 Milln its inhabitants own electronic wallets with digital yuan.

It was the growth of the number of digital yuan holders that prompted insurers to create a product. The developers explained, that thanks to him the injured wallet owner will be able to file a lawsuit, When its digital yuani will be stolen and/or the wallet password will be compromised during the warranty period. China Pacific reported, which is more 500 Man purchased an insurance product, Including students of the business school of the University of Suzhou and employees of state institutions of Zhangjiangan.

Starting with 2020 years, the China Pacific Insurance branch in Suzhou expands the use of digital yuan through cooperation with the local government, by banks, through which insurance premiums are collected, and salaries are also paid.

Last month, the Shanghai authorities reported, that they will conduct a new distribution of digital yuan.