Chinese central bank to patent its digital renminbi ATM/CDM

Monday 4 July 2022 12:54 CET | News

The People’s Bank of China (PBOC) has applied for a patent on an automatic teller machine (ATM)/ cash deposit machine (CDM) for the digital renminbi, according to China Banking News.


PBOC’s Digital Currency Research Institute, Shenzhen Yihua Computer Tech, Shenzhen Yihua Computer Share, and Shenzhen Yihua Shidai Tech submitted a joint application for a patent on a digital renminbi ATM/CDM earlier in 2022.

According to the patent summary, the technology consists of a ‘digital renminbi ATM/CDM, including protective casing, and deposit and withdrawal equipment installed within the protective casing’. The list of inventors for the technology includes the head of PBOC’s Digital Currency Research Institute.

The patent was first submitted on 23 February 2022 and made public by Chinese authorities via an official announcement on 28 June 2022.

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Keywords: central bank, ATM, product upgrade
Categories: Banking & Fintech
Companies: PBOC
Countries: China
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Banking & Fintech


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