PBoC launches new phase of e-yuan pilot
Consumers in some cities can use prototype CBDC for public transport and housing
The People’s Bank of China has expanded its prototype central bank digital currency (CBDC), allowing it to be used on buses and for housing payments.
The “e-yuan” can be used in Guangzhou to pay for bus fares. Passengers need to download the e-CNY app, deposit funds and scan a QR code to pay for their journey. Chinese media reports said that travellers can pay for rail fares using the e-yuan in at least nine cities.
Last week, also in Guangzhou, the authorities allowed residents to pay for
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