According to ChainCatcher, Chen Shouxin, chairman of the Monetary Authority of Macao, revealed that the initial idea is to launch soft and hard wallets for the "digital Macau dollar".
A "hard wallet" can be in the form of a "card" and combined with smart devices, making it convenient for the elderly and children to use; a "soft wallet" is launched in the form of a mobile phone application.
The “Digital Macau Pataca” has the same legal status as cash, and the “Digital Macau Pataca” can be used for payment in scenarios where cash is used. At the wholesale level, it is mainly used by regulated financial institutions, involving application scenarios such as transfers and financial transaction settlements.
