China Has Processed 1.1 Billion Yuan Worth Of Transactions In Ongoing CBDC Pilot Tests

The People’s Bank of China revealed that 3.13 million transactions had been processed using digital yuan.

The CBDC has been used for bill payments and more.

The People’s Bank of China (PBOC) has already carried out 1.1 billion worth of pilot transactions using its central bank digital currency (CBDC).

An update on the digital currency was revealed by PBOC’s deputy governor Fan Yifei on the 5th of October.

While speaking during the Sibos banking and financial conference, Fan Yifei said the CBDC has been used to process 3.13 million transactions.

Over the past few months, the CBDC has been undergoing several pilot tests.

In his statement, the deputy governor confirmed that the pilot tests executed in Shenzhen and Xiongan have made “positive progress.”

As Fan stated, the digital currency has been tested in 6,700 use cases in bill payments, government services, and transport.

In addition, the central bank executive said that the currency is currently being used for several payment methods.

Specifically, Fan mentioned bar-code payments, facial recognition, and tap-and-go transactions.

Notably, pilots will also be conducted for the digital yuan at the upcoming Winter Olympics in 2022.

Furthermore, Fan revealed that the Chinese government collaborated with the Shenzhen government to reward health workers who participated in the coronavirus treatments.

The government used e-yuan red packets to reward 5,000 medical workers.

The workers can use their rewarded e-yuan red packets at specific merchants in Luohu.

Also, Fan said over 11,300 personal digital wallets, as well as 8,800 corporate wallets, have already been opened for the ongoing pilot transactions.

Source: kryptomoney.com

Comments

For my haters

₿ This is for people who told me to not put my money in Bitcoin 10 years ago 😂 RIP doubters and haters. #Bitcoin 💀 pic.twitter.com/sbuDljJtMv — Carl ₿ MENGER ⚡️🇸🇻 (@CarlBMenger) May 13, 2025

Coinbase to Require Recipient Information for Crypto Transfers From Users in Canada, Singapore and Japan

Customers in those countries who send crypto outside their Coinbase accounts must provide recipients’ names, addresses and in some cases, additional information, as of early April. Cryptocurrency exchange Coinbase Global (COIN) will soon require its customers in Canada, Japan and Singapore who send cryptocurrency to another financial institution or exchange to provide the name, address and in the case of Japan, the destination wallet of the recipient. Coinbase has been sending notices to its customers in those countries that the changes will take effect in early April in order to comply with local travel rules in those places. Coinbase didn't immediately respond to requests for additional comment on the moves, but confirmed that they were taking place. The move does not seem to be going over well with Coinbase customers in those countries, who value the anonymity of transactions using cryptocurrency. According to a FAQ provided by Coinbase , for Canadian users, ...

Jupiter plugin on your site

Jupiter launches Jupiter Plugin , a customizable plugin that doesn't require RPC. PANews reported on August 7th that Jupiter announced the launch of the Jupiter Plugin. This is an open-source, lightweight, plug-and-play version of Jupiter that allows users to seamlessly integrate end-to-end swap functionality into their applications with minimal effort. Users can deploy it by simply adding a few lines of code. Seamless Integration Embed Jupiter's Swap functionality directly into your application without redirection. Multiple display options: Choose between integrated, widget or modal display modes. Customizable options: Configure the exchange form to suit your application needs. No RPC: Plugins can be integrated without any RPC, Ultra is responsible for handling transaction sending, wallet balance and token information. Ultra Mode: Access all Ultra Mode features. Enjoy!

Crypto Ethone

Search This Blog