(Yicai Global) Jan. 5 -- The People's Bank of China has released its first digital wallet for users of its e-yuan in 10 pilot areas, including Shenzhen, Shanghai, and Dalian, to promote the use of the central bank digital currency.

The PBOC launched the CBDC app for both Android and iOS phones on app stores yesterday, according to public information. Eligible users can open e-yuan accounts and manage their finances via the mobile app. Before this, apps of several commercial banks had begun offering e-yuan services.

Since last year, the central bank has been promoting the development of the cryptocurrency. Some 140 million personal e-yuan wallets and 10 million corporate ones had been registered nationwide as of Oct. 22 with nearly CNY62 billion (about USD9.7 billion) in transactions, according to public data. Almost 1.6 million merchants supported e-yuan payments by then.

Some of the PBOC's 10 pilot regions are Chengdu, Xiong’an New Area, Suzhou, and Qingdao, as well as others relevant for the upcoming 2022 Beijing Winter Olympics.

The program is expanding. The number of participating lenders has widened to nine from six state-owned commercial banks. The new additions are China Merchants Bank, as well as two neobanks, namely Ant Group's MYbank and Tencent Holdings' WeBank.

The key to increasing the popularity of the CBDC is in channels, which means that the currency should be easy to use, as well as usability, which means that it should be a convenient payment method, Pan Helin, executive dean of a digital economy institute at Zhongnan University of Economics and Law, said to Yicai Global. The PBOC's app has both features so that should be helpful, Pan added.

Editor: Dou Shicong, Emmi Laine, Xiao Yi