The campaign comes as central banks worldwide race to issue digital currencies to modernise payments systems. FMTNews China
SHANGHAI: China’s central bank is issuing 10 million yuan worth of digital currency to 50,000 randomly selected consumers in what some see as the country’s first public test of the digital yuan payment system.
But only some will be awarded a 200-yuan “red envelope” via a lottery, according to the local government and the lenders. He suggested the PBOC expand pilot schemes to more Chinese cities and officially launch the digital currency as soon as possible to meet public needs. On Friday, a group of seven major central banks including the US Federal Reserve set out how a digital currency might look, in a bid to catch up with China’s “trail blazing” and leapfrog private projects like Facebook Inc’s Libra stablecoin.
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