In a move to test its state-owned CBDC dubbed e-CNY, China has given away digital red envelopes embodying its prototype CBDC in Beijing and Shanghai to test the digital yuan (e-CNY). Reportedly, the Winter Olympics (WO) vendors will also allow e-CNY for payments.
Different platforms in the country including Shijingshan, a site for the forthcoming WO, is taking strides in embracing the adoption of e-CNY and has now begun supporting digital payments conducted using the state-owned virtual currency.
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