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Digital Yuan Giveaway: Shenzhen Residents to Receive 15 Million Yuan in Digital Currency

DIGIT — Fri, 29 Apr 2022 05:30:33 +0000

The Chinese government is giving away 15 million yuan in central bank digital currency (CBDC) to 130,000 residents of Shenzhen this Friday. The digital yuan can be used at nearly 5,000 stores with no minimum purchase required. Digital Yuan Pilot Continues China’s central bank, the People’s Bank of China (PBOC), continues to test its central […]

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China Offers Medics Digital Yuan Insurance Policy for Covid-19

DIGIT — Wed, 21 Jul 2021 15:00:46 +0000

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 by the country’s largest insurer, Ping An. The financial giant also has fintech and healthtech entities under its umbrella. Ping An Teams Up With Bank […]

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China Has Dispersed Over $40 Million of Digital Yuan in Red Envelopes, Report Reveals

DIGIT — Sun, 11 Jul 2021 16:30:47 +0000

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 campaign for the CBDC is currently focused on five major cities, taking into account their regional development priorities. Beijing Gives Away 269 Million Yuan in […]

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China and Japan go full steam ahead with CBDC pilots

DIGIT — Fri, 26 Mar 2021 04:56:01 +0000

Asia’s largest economies are pushing forward with their respective CBDC trials, with six Chinese banks offering digital wallets and Japan establishing a new committee.

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