Macau Monetary Authority President: "Digital Macanese Pataca" plans to establish soft and hard wallets, with the development project carried out in three phases

ChainCatcher news, the President of the Monetary Authority of Macao, Chan Sau San, revealed the preliminary plan to launch a "Digital Macanese Pataca" in both soft and hard wallet forms. The "hard wallet" can take the form of a "card" and may even be integrated with smart devices, making it convenient for the elderly and children to use; the "soft wallet" will be launched as a mobile application.

Chan Sau San stated that the "Digital Macanese Pataca" will have the same legal status as cash, and scenarios where cash is used can be applicable for payment with the "Digital Macanese Pataca." The wholesale level of the "Digital Macanese Pataca" is primarily intended for regulated financial institutions, involving applications for transfers and financial transaction settlements.