China Begins $6 Million Digital Yuan Airdrop Trial
China has been developing its central bank digital currency (CBDC), the Digital Yuan, for over seven years. The project has come to a critical test phase and it’s ready to be used by the citizens. A report by CNBC confirms that China will give around $6.2 million in its digital currency to lucky people living […]
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China’s City of Shenzhen has decided to airdrop 30 million digital Chinese Yuan (e-CNY) in red envelops with the help of a lotter program. This move will be introduced in order to revive consumer spending amidst a pandemic hit economy. This airdrop will be directed towards the local residents in attempts to revive economic conditions […]
China is giving away 10 million yuan in its central bank digital currency in Beijing. Recipients can spend the digital yuan during the Chinese New Year festival. Beijing has become the third major city in China to test the central bank digital currency. 50,000 People to Receive Free Digital Yuan China is actively testing its central bank digital currency (CBDC). Beijing is the next city to receive a digital yuan airdrop. The Beijing municipal government announced over the weekend that it will hand out a total of 10 million yuan ($1.55 million) to 50,000 people in the city who register for....
China, which has the world’s most advanced digital currency initiative, has distributed more than $40 million in red envelopes containing digital yuan thus far. The CBDC’s promotional effort is now focusing on five main cities, with regional development priorities in mind. Digital Yuan Begins Red Envelope Project The experimental implementation of the digital RMB, the […]
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....
A lottery in Suzhou will additionally trial the offline feature of the digital yuan, per a Monday report.