$30m e-CNY Airdropped in Shenzhen to Boost Consumer Spending
The use of China’s Central Bank Digital Currency (CBDC) is currently being boosted by the city of Shenzhen, according to reports that the authority has airdropped 30 million Digital Yuan…
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People’s Bank Of China Targets Crypto Companies In Shenzhen Crackdown
The Shenzhen office of the People’s Bank of China (PBOC) has reportedly set out to correct the business activities of about a dozen companies allegedly engaged in cryptocurrency transactions. According…
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China Offers Medics Digital Yuan Insurance Policy For Covid-19
China’s first insurance policy using the digital yuan for settlement has been issued in Shenzhen, local media reported. The new product, targeting medical personnel exposed to coronavirus risks, is offered…
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China Has Dispersed Over $40 Million Of Digital Yuan In Red Envelopes, Report Reveals
China, which has arguably the most advanced digital currency project among leading nations, has so far handed out more than $40 million in red envelopes with digital yuan. The promotional…
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Beijing And Suzhou Railways Now Accept Digital Yuan Payments For Ride Fares
Beijing subway has officially launched a new program that allows passengers to pay for rides with the central bank digital currency (CBDC) also known as the digital yuan. The news…
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Shanghai To Hand Out $3 Million In Digital Yuan Lottery
As part of government efforts to get the digital yuan going, authorities in Shanghai will distribute $3 million worth of the central bank-issued currency among residents of Shanghai. The digital…
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Beijing To Disperse $6 Million In Digital Yuan In A Red Envelope Lottery
China’s central bank digital currency (CBDC) continues to gain further ground as the Beijing Local Financial Supervision and Administration Bureau revealed 40 million worth of the country’s digital yuan ($6.3…
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Digital Yuan Trial Hotspot Not Seeing Wide Acceptance, Claims Report
With digital yuan pilots underway in China, it seems the currency is not meeting government expectations. A recent report highlighted a series of interviews from people in the hotspot, reflecting…