The digital yuan, officially known as the Digital Currency Electronic Payment (DCEP), is part of China’s plan to move towards a cashless society. Photo: Reuters The digital yuan, officially known as the Digital Currency Electronic Payment (DCEP), is part of China’s plan to move towards a cashless society. Photo: Reuters
The digital yuan, officially known as the Digital Currency Electronic Payment (DCEP), is part of China’s plan to move towards a cashless society. Photo: Reuters

Shenzhen’s sovereign digital currency giveaway attracts 2 million applicants in China’s latest test of virtual yuan

  • A total of 50,000 digital ‘red packets’ each containing 200 yuan (US$30) were available, meaning only 2.61 per cent of applicants were successful
  • It is the latest in a series of trials to test and promote the new digital yuan, officially known as the Digital Currency Electronic Payment (DCEP)

Topic |   China digital currency
The digital yuan, officially known as the Digital Currency Electronic Payment (DCEP), is part of China’s plan to move towards a cashless society. Photo: Reuters The digital yuan, officially known as the Digital Currency Electronic Payment (DCEP), is part of China’s plan to move towards a cashless society. Photo: Reuters
The digital yuan, officially known as the Digital Currency Electronic Payment (DCEP), is part of China’s plan to move towards a cashless society. Photo: Reuters
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