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China mints more Digital Yuan ahead of Beijing Olympics

Four government-run banks domiciled in Beijing have dolled out a new batch of digital yuan (eCNY) coupons.

Sources believe that the release of these tokens is part of a more extensive effort to boost the adoption rate of the eCNY in preparation for the Beijing Olympics that will be held next year.

Digital Yuan

Further investigation into the story revealed that the banks issuing the tokens are the Industrial and Commercial Bank of China (ICBC), the Agricultural Bank of China, the Bank of Communications, and the Postal Savings Bank.

RELATED: Digital yuan conversions can now be carried out at 3000+ ATMs in Beijing

The issued coupons will be used to test the use case of the digital yuan in settling regular small-scale payments.

Holders will albe to make payments using the coupon across different places such as stores, subway stations, bus stations, laundry service centers, bookstores, and delivery express services.

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