China’s ‘red envelope’ lottery giveaway of digital yuan to 50,000 residents of Shenzhen resulted in 62,788 transactions with a total value of 8.764m yuan (US$1.32m) during the week-long central bank digital currency (CBDC) test in the city. In all, 47,573 of those chosen from nearly two million applicants to receive the 200 e-yuan (US$29.65) ‘gift’ […]
Read the rest of Shenzhen residents spend nearly 9m digital yuan during CBDC pilot at NFCW.