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Another city in China to host digital yuan distribution

On January 27, the authorities of the Chinese city of Chengdu in Sichuan province will distribute 30 million digital yuan (~ $ 4.6 million) among the population. The Block writes about this with reference to local media.

Online retailer will also receive 20 million yuan ($ 3.1 million). In December 2020, the company already participated in the experiment – within a day after its start, customers made almost 20,000 transactions on the site in national digital currency (DCEP).

Winners of the Chengdu red envelope distribution lottery must spend the prize between February 4-26, 2021.

Previously, the mass testing of the digital yuan took place in Shenzhen. In the second DCEP test, local residents made nearly 140,000 transactions worth 18.22 million yuan (~ $ 2.8 million).

In January 2021, the third phase of testing began. In the same month, Beijing and Shanghai announced plans to support DCEP testing.

Recall that in December, an experiment with the distribution of 100,000 “red envelopes” took place in Suzhou.

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Fidenge Pecold

My profession is a journalist, but my hobby for 8 years has been studying Forex investing and trading. During this time, I managed to gain extensive experience in investing and trading cryptocurrencies and double my capital in the Forex market. To be the author of this magazine, the site owners invited me to participate in one of the 2020 trading webinars, and I will try to reveal the most relevant crypto market news for you.

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