PBOC to launch third digital yuan trial in Shenzhen

The People’s Bank of China (PBOC) is to follow its pilots of NFC-based contactless digital currency payments with the distribution of a further 20m digital yuan in a third ‘red envelope’ lottery to be held in Shenzhen.

The trial follows rapidly on from the second digital yuan giveaway in Shenzhen, which ended on 17 January and saw the total value of transactions in the digital currency top 18m yuan (US$2.78m) across 11,000 retail outlets.