shenzhen – DIGIT INFO

More than 2.6 million users signed up for City of Shenzhen’s digital Yuan airdrop

DIGIT — Thu, 14 Jul 2022 17:30:00 +0000

The city has about 18 million residents in its prefecture-level area.

City of Shenzhen airdrops 30M in free digital Yuan to stimulate consumer spending

DIGIT — Mon, 30 May 2022 15:30:00 +0000

The move comes as part of a government effort-led to revitalize consumer spending as a zero-COVID policy has devastated the countries’ economic hubs.

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People’s Bank of China Targets Crypto Companies in Shenzhen Crackdown

DIGIT — Wed, 18 Aug 2021 04:00:26 +0000

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 to Chinese media, the entities have been targeted in a crackdown on crypto trading in the city. People’s Bank of China Cracks Down on Coin […]

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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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Beijing and Suzhou Railways Now Accept Digital Yuan Payments for Ride Fares

DIGIT — Thu, 01 Jul 2021 07:30:54 +0000

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 follows the subway system in East China’s Jiangsu province in the city of Suzhou which also allows digital yuan payments for subway fares. Digital Yuan […]

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Shanghai to Hand Out $3 Million in Digital Yuan Lottery

DIGIT — Sun, 06 Jun 2021 09:30:37 +0000

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 money will be dispersed through a lottery, a method that has already been implemented elsewhere in China. Lottery Winners to Get 350,000 Digital Red Envelopes […]

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Beijing to Disperse $6 Million in Digital Yuan in a Red Envelope Lottery

DIGIT — Thu, 03 Jun 2021 03:30:24 +0000

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 million) will be distributed to Chinese citizens. Beijing and China’s Central Bank Launches Digital Yuan Lottery The People’s Bank of China (PBoC) and Beijing Local […]

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Digital Yuan Trial Hotspot Not Seeing Wide Acceptance, Claims Report

DIGIT — Tue, 11 May 2021 20:00:42 +0000

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 a lackluster reception among the participants. Privacy Concerns Reported According to Bloomberg, residents in Shenzhen, the Chinese analog to Silicon Valley, have shown little interest […]

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State-Backed Agricultural Bank of China Launches the First Digital Yuan ATMs

DIGIT — Tue, 12 Jan 2021 21:30:33 +0000

The Agricultural Bank of China (ABC), one of China’s “big four” banks, is embarking on a pilot program to enable the first digital yuan ATMs. The banking institution deployed the first machines in selected branches in Shenzhen. ATMs Will Work With a Smartphone App According to SZ News, the program is part of the ongoing […]

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