Shenzhen authorities have announced the results of a new digital yuan test. Its participants made almost 140 thousand acquisitions for a total of $3 million. Digital money was allocated through a lottery. Out of 100 thousand tickets, 200 yuan each, 95.6 thousand were activated. Some users restocked their balances by making about $231 thousand in dollar terms.
The lotto winners had to spend the funds received from January 7 to 17. But they may continue to use digital wallets to pay at all the outlets that partook in the trial, authorities say. You can replenish electronic balances through bank accounts.
In December 2020, it became known that the second largest online store in China, JD.com Inc. will support the digital yuan. Also, at the end of last year, it passed a test of using the digital yuan in offline mode. To do this, users just had to bring two devices with crypto wallets to each other.
China plans to utilize the national digital currency in Beijing throughout the 2022 Winter Olympics. The tests are taking place in the cities of Shenzhen, Suzhou, Chengdu, and in the new state-level Xiong’an district, Hebei province.
