CBDC in Huizhou, Guangdong Province


CBDC in Huizhou, Guangdong Province

More Chinese companies are using the digital yuan to pay their workers, as Beijing looks to spur the adoption of the CBDC.

According to the Huizhou Daily, a state-run bureau in Huizhong province has teamed up with the Industrial and Commercial Bank of China (ICBC) to implement the pilot program.

The bank hopes that the experience will help it to further develop the use of the CNY in the public sector.

China Paying More Workers in Digital Yuan

Meanwhile, more and more Chinese have begun using theDigital Yuan to pay for goods and services in order to encourage local merchants and individuals to accept the coin.

Last month, a leading Chinese academic suggested that digital fiats like the e-CNY could help the country and non-Western allied nations break USD hegemony.

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