Over 490,000 vendors in the city of Changsha accept digital yuan payments.
The pilot phase of China’s CBDC pilot continues.
According to a report by the Changsha Evening News, this year has seen the city expand its efforts to accept digital currency use-cases into key areas such as government services, public transportation, inclusive finance, and rural revitalization projects.
More than 83.7324 million digital yuan transactions had been carried out in Changsha, for a transaction value of $1.9 billion.
The report also claims that many citizens have begun using the central bank’s official and recently updated digital yuan app to make utility bill payments.
Changsha, China Claims More Digital Yuan Landmarks
The city has been one of the nation’s most zealous in its CBDC adoption drives.
It was added to the pilot zone following a November 2020 announcement.
In February this year, the city authorities claimed 300,000 merchants were processing e-CNY payments.
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