It’s now possible to use digital currency in China in order to save carbon credits.
Industrial Bank‘s digital RMB application use-cases continue to expand.
Recently, it was reported that Industrial Bank has introduced a new service. This is for newly opened real-name Industrial Bank wallet users, existing real-name Industrial Bank wallet users, as well as anonymous Industrial Bank wallet users.
Those clients that are holding Industrial Bank cards may obtain Industrial Bank personal carbon account points by completing digital currency scanning processes via the Industrial Bank Mobile banking app.
Currently, the Industrial Bank’s personal carbon account points system has reportedly covered several scenarios like everyday payments, funding typical purchases, and credit card repayment.
A representative in charge of the Digital RMB Department of Industrial Bank shared (roughly tranlated):
“Digital RMB wallets and carbon accounts are new [enablers / use-cases] for the innovative development of digital finance and green finance in China in recent years. Promoting the integration of the two can achieve complementary advantages, play a synergistic effect, and help build a green consumption system and a new digital RMB ecosystem.”
As a local green finance service provider and a designated digital RMB operator, in recent years, Industrial Bank says that it has continued to support the integration of digital RMB and green financial businesses.
And it is focused on continuously broadening the scope of the application of digital RMB in the field of green finance.
For instance, in Fuzhou, the bank completed the first transaction in Fujian Province in order to purchase marine fishery carbon sinks with digital RMB.
In Suzhou, it also introduced a carbon inclusive income right pledge model, and issued a total of over 7 billion yuan in digital RMB green financial loans.
Notably, Industrial Bank has also opened nearly 7.3 million digital wallets with a transaction amount surpassing 300 billion yuan.
