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Beijing Winter Olympics vendors begin to accept digital yuan

Last update 09.06.2021 11:02

As China gives away virtual red envelopes containing its prototype digital yuan in Beijing and Shanghai to test the currency, Shijingshan, a site for the upcoming Winter Olympics, has started supporting payments made using the state digital money, known as e-CNY.

Beijing Winter Olympics vendors begin to accept digital yuan

Fast Facts:

The western Beijing district of Shijingshan said on Tuesday that 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).


Just last week, Beijing announced that it would distribute 200,000 virtual red envelopes, each containing 200 (US$31.30) of digital yuan. Shanghai has announced a similar plan, and is poised to hand out 350,000 virtual red envelopes to people across the city during next week’s Dragon Boat Festival.


The giveaways are part of China’s nationwide pilot program to further test the digital currency, which has so far been trialed in more than eight cities.

 

Source:forkast.news

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