Digital renminbi (e-CNY) can be now withdrawn on ATM in Beijing

The Beijing branch of Industrial and Commerce Bank of China (ICBC) has become the first bank to launch such a feature allowing users to convert their digital renminbi (e-CNY) to cash at over 3,000 ATM locations in Beijing, according to Xinhua Finance on June 18.

ICBC’s automated teller machine (ATM) in China

The Beijing branch of AgBank, one of the “Big Four” banks in the country also had installed a similar feature at over 10 ATMs in the capital city’s Wangfujing shopping area.

The Industrial and Commerce Bank of China is a state-owned commercial bank. The bank was positioned at 1st in The Bankers Top 1000 World Banks ranking, every year from 2012 to 2019, and first (2019) on the Forbes Global 2000 list of the world’s biggest public companies.

Xinhua Finance also reported that Beijing Petroleum Gas Station has opened up the use of e-CNY and more than 10 business channels, such as refueling and shopping, and has completed testing and launching at 27 gas stations.

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