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.
China’s PBoC met recently for the first time this year, and blockchain was on the agenda. The deputy governor urged for accelerated blockchain adoption
The PBoC has expanded its fintech regulation, which was previously only in Beijing, to six more cities as China seeks to become the global fintech hub.
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.
Agricultural Bank of China has launched a test app for the PBoC’s digital currency, giving the first real insight into how people will interact with the CBDC.
Hong Kong and Thailand have been conducting research on a state-backed digital currency, with the report coming by Q1 next year.