The Chinese city of Suzhou has announced that it will be holding a $5 million airdrop of China's central bank digital currency the DC/EP.
The city of Suzhou in China will be distributing 20 million yuan ($3 million) of China's central bank digital currency–the DC/EP–via a lottery.
Peoples Bank of China governor Yi Gang gave several announcements regarding the DC/EP at Hong Kong Fintech week–Yi Gang's reports indicate progress.
According to PBOC’s deputy governor, China’s CBDC, the DC/EP, has been used in over 3.13 million transactions with a valuation of roughly $162 million.
After years of speculation, China’s central bank has revealed that its long-awaited digital yuan will be in use during the 2022 Winter Olympics in Beijing.