Shenzhen to Double Digital Yuan Giveaway in China’s Latest Lottery Test

Shenzhen to Double Digital Yuan Giveaway in China’s Latest Lottery Test

The latest digital currency giveaway is aimed to gauge user experience ahead of an expected launch.


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95% of winners in China’s CBDC lottery spent digital yuan prizes

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Shenzhen to hand out 10 million digital yuan in currency giveaway

China is promoting its central bank digital currency with a public $1.5 million giveaway. The major Chinese city of Shenzhen is launching a pilot program to promote the digital yuan with a public giveaway.In collaboration with the country's central bank, Shenzhen is planning to distribute a total of 10 million digital yuan ($1.5 million) — China’s central bank digital currency, local news agency Sina Finance reports Oct. 9.As reported, the giveaway pilot will be funded by Shenzhen's Luohu District. The giveaway money will be reportedly distributed to 50,000 recipients through a lottery.....

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Didi, Meituan and Bilibili are reportedly taking part in the latest test of the digital yuan, allowing lottery winners to spend the digital currency online.