JD.com first to accept digital yuan
Print Edition
E-commerce giant JD.com said on Saturday it has become China鈥檚 first virtual platform to accept homegrown digital currency.
JD Digits, the company鈥檚 fintech arm, will accept digital yuan as payment for some products on its online mall, as part of an experimental giveaway of digital yuan to citizens of Suzhou, according to a post on the company鈥檚 WeChat account.
China鈥檚 digital yuan is one of the world鈥檚 most advanced 鈥渃entral bank digital currency鈥 initiatives, as authorities globally respond to threats from private currencies such as bitcoin and Facebook鈥檚 Libra.
Under the Suzhou program, the city government and the People鈥檚 Bank of China will issue 200 digital yuan 鈥渞ed envelopes鈥 to 100,000 consumers selected through a lottery.
Suzhou鈥檚 scheme is the second such digital lottery, after the PBOC issued 10 million yuan (US$1.5 million) worth of digital currency to 50,000 randomly selected consumers in the southern city of Shenzhen.
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