China Conducts New Digital Yuan Test
Main page News, China, Cryptocurrency
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Dec. 11, 2020
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Chinese ride-hailing company DiDi, food delivery app Meituan and video streaming platform Bilibili are going to take part in the new tests of the digital yuan in the Chinese city of Suzhou, which will include $3M in digital yuan.

According to local news outlet CLS, the recipients of the currency in Suzhou will be able to spend their free digital yuan on DiDi or Meituan services if they decide to activate their DC/EP wallets with the Industrial and Commercial Bank of China.

However, if they decide to activate their DC/EP wallets with the Bank of China, they will be able to spend the money on Bilibili's video streaming service.

The authorities in the Chinese city of Suzhou announced last week they were going to distribute 20 million yuans or $3M in digital yuans to residents in the city through a lottery.

This second test is much larger than the first test of the digital yuan that was conducted in the city of Shenzhen back in October.

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