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Digital yuan transactions surge, reach $11.24B last year

source-logo  forkast.news  + 3 more 19 January 2022 08:30, UTC

The numbers are in: digital yuan’s historical transactions reached 87.565 billion yuan (US$11.238 billion) as of the end of 2021, the People’s Bank of China (PBOC) announced on Tuesday. 

Fast facts

  • The latest tally is a 140% increase since data was last shared with the public in late October.
  • The number of personal digital yuan wallets surged 86.4% over the same period to 261 million, the PBOC said.
  • China’s digital yuan, or e-CNY, is touted as the most advanced central bank digital currency (CBDC) issued by a major world power.
  • There were four digital yuan airdrops from Oct. 22 to Dec. 31 — two in Beijing, one in Qingdao, and one in Haikou. 
  • Three of the four airdrops in Beijing and Qingdao focused on the distribution of digital yuan for public transportation in the form of coupons. 
  • The upcoming Winter Olympics is expected to be a high-profile showcase for digital yuan, but the event has closed public ticket sales due to Covid-19 concerns.
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