Digital yuan pilots expand to insurance industry for the first time
China's central bank digital currency can now be used on insurance policies that offer various levels of compensation for diagnosis of or death due to COVID-19. China's nascent central bank digital currency, the digital yuan, has already been deployed for an extensive array of successful pilot schemes, ranging from e-commerce to salary payments and to festive traditional lotteries.This week has reportedly seen the currency debut in the insurance industry, in the city of Shenzhen, where it is being piloted by the local branch of the People’s Bank of China together with a local subsidiary of....
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