Chinese residents make 20K transactions in digital yuan trial event
The numbers come following the Suzhou municipal government giving away roughly $3 million in a digital yuan lottery for residents. People in China have conducted roughly 20,000 transactions through e-commerce company JD.com in a trial of the country’s digital yuan.According to local media outlet Global Times, JD.com reported that 80% of participants born in the 1980s and 1990s used the platform to conduct transactions in the digital currency starting on Friday evening, with at least one transaction larger than $1,527. The e-commerce site also reported the numbers as the city of Suzhou....
Related News
After years of rumors and leaks on Chinese social media, Shenzhen residents became the first in the country to trial the digital yuan. Distribution of funds took place via a lottery-style promotion with 50,000 “red packets,” each worth 200 yuan ($30), up for grabs. Chinese citizens living in Shenzhen registered their interest via the local […]
Shenzhen residents are all set to receive digital Yuan worth $2.29 million as part of the Central Bank Digital Currency (CBDC) testing. The Chinese government will be giving these 15 million Yuan in CBDC to 130,000 residents. This CBDC will be eligible to be used at over 5,000 stores with no such minimum purchase required. […]
The city of Shenzhen has launched the third round of its central bank digital currency pilot in the form of a promotional lottery scheme offering residents handouts during local festivities. Residents of the Longhua District in the Chinese city of Shenzhen will have a chance to participate in a forthcoming lottery event that aims to encourage the adoption of the country's new central bank digital currency — known alternatively as the DC/EP, digital renminbi, or digital yuan. Announced on Jan. 20, the lottery is scheduled for Jan. 26, when lots will be drawn to select the 100,000 winners....
Tied in with a national shopping event, the trial will add "offline" and "touch" functionality. The Chinese city of Suzhou will be the second to roll out a “red envelope” trial for the forthcoming digital yuan, according to a report in local media outlet The Paper.Following the successful pilot scheme run in the city of Shenzhen last month, insiders say that the Suzhou district of Xiangcheng will be launching the giveaway to coincide with the country’s Double 12 shopping event on Dec. 12.Many businesses in the district have reportedly already installed near-field communication QR codes in....
The Chinese government is giving away 15 million yuan in central bank digital currency (CBDC) to 130,000 residents of Shenzhen this Friday. The digital yuan can be used at nearly 5,000 stores with no minimum purchase required.
Digital Yuan Pilot Continues
China’s central bank, the People’s Bank of China (PBOC), continues to test its central bank digital currency (CBDC) with another digital yuan giveaway.
The government of Shenzhen’s Futian district has announced that 15 million yuan ($2.27 million) in digital RMB (e-CNY) will be given to local....