China’s prototype digital yuan is being rolled out currently for people to test. A site has started supporting payments made using the state digital money, known as e-CNY. This is ahead of the Winter Olympics.
More 200 vendors at and around the venues for the 2022 games were now supporting payments made using e-CNY, formerly known by its original project name, DCEP (Digital Currency Electronic Payment). You can read the full report here
If was announced last week that 200,000 virtual red envelopes, each containing 200 (US$31.30) of digital yuan would be distributed in Beijing.
Shanghai has also moved in the same direction with 350,000 virtual red envelopes being distributed to people across the city during next week’s Dragon Boat Festival.
This makes it 8 cities now where the digital yuan is being tested in the country.
