Another Digital Yuan Giveaway Will See $2.75m Distributed in China’s Fuzhou
Source: RHJ/Adobe China’s digital yuan pilot continues to gather pace: The nation’s central bank is teaming up with an e-commerce heavyweight in an effort to boost adoption. The parties will be giving away another $2.75m worth of coins (in e-voucher form) in the city of Fuzhou, in China’s Fujian Province. Per the Southeast Express, a Fujian Province-based newspaper, over 200,000 central bank digital currency (CBDC) “coupons” will be issued this month to individuals who must be “geographically located” in Fuzhou at the time of application. They will need to register their interest via the JD.com app – with the e-commerce giant distributing the tokens daily until November 30 on a random basis. The catch is that the central People’s Bank of China (PBoC) and JD.com do not seem to want to allow recipients to HODL their coins. They have built in technology that means that the digital yuan “coupons” will exp...