Every day, there are numerous news updates about the pilots for China’s central bank digital currency (CBDC). Here’s a roundup.
It is now possible to redeem a bike ride via digital yuan red envelopes (giveaways) in twelve major cities across China, including Beijing, Shanghai, Shenzhen, Suzhou and Chengdu.
The goal is to promote a reduction in carbon emissions whilst promoting the digital yuan. The project was launched in conjunction with the major Chinese food delivery company Meituan which also operates bike rentals. After registration, users will immediately receive a 10 yuan red envelope and it’s possible to get cashback via additional red envelopes for their daily riding.
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