Business
Chinese central bank to give away 10 million in digital currency in first public trial of new payment system – ABC News
As China looks to get ahead of international competition the nation’s central bank is issuing 10 million yuan ($2 million) worth of digital currency to 50,000 r…
China’s central bank will issue 10 million yuan ($2 million) worth of digital currency to 50,000 randomly selected consumers in what some see as the country’s first public test of the digital yuan payment system.
Key points:
- The campaign comes as central banks worldwide race to modernise payment systems
- Any individuals in China’s southern city of Shenzhen can apply through the country’s big four banks
- Those selected can use the digital currency in 3,389 retail outlets, …
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