China’s Cryptocurrency e-CNY Is Now Available In Over 23 Cities

The People’s Bank of China announced that it has expanded its digital yuan pilot program to 11 more cities, including Hangzhou, which hosted the Asian Games in September.

Tianjin, Chongqing, Guangzhou, Fuzhou, Xiamen, and six other cities in Zhejiang province will test China’s central bank digital currency (CBDC). Until Friday, April 1, residents of at least five of the 11 experimental cities could access their digital yuan wallets. Residents in 23 cities now have access to the digital yuan, according to the latest declaration.

In October 2020, China’s CBDC – digital yuan or e-CNY – began trials in Shenzhen

By the end of 2021, it had topped US$11.24 billion in historic transactions. The digital yuan recently made its international debut at the Winter Olympics. Finally, the digital yuan will be included at the Chengdu Summer University Games and the Hangzhou Asian Games, two forthcoming big sporting events.

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