digital yuan, e-cny, China’s digital yuan expands to five more cities

China’s digital yuan expands to five more cities

Posted on


Residents in five more Chinese cities were able to access digital yuan wallets starting Thursday, marking a major development for central bank digital currencies (CBDCs) globally. 

See related article: Asian Games set for digital yuan, metaverse pilots, tech firm claims

Fast facts

  • Users on Chinese social platform Weibo in Hangzhou, Nanjing, Tianjin, and Quanzhou claimed to open digital yuan wallets on Thursday, while a media outlet in Guangzhou purchased groceries using the digital yuan in a local shopping mall.
  • A Weibo user from Tianjin told Forkast that he received a 40 yuan (US$6) bonus after opening a digital yuan account. 
  • Only users based in digital yuan pilot cities can open accounts for now. It wasn’t immediately clear which other cities will be next. 
  • The People’s Bank of China said in its March work-plan meeting that it will expand digital yuan pilots in 2022. 

See related article: Digital yuan pilot attracts Chinese province bordering Russia



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *