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Ronald Maguire

02 June 2022 183 Read Crypto

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China Issues Digital Yuan to Citizens

China's Shenzhen province plans to distribute 30 million eCNY, or about 4.5 million dollars, to residents of the province. The government's plan is to distribute these funds to citizens in red packets. The government has partnered with eight banks for this project. Shenzhen Municipal Trade Bureau and its partners will offer the red packages in the form of a lottery to ensure that both offline and online populations get a fair chance. The Digital Yuan will be offered through the Meituan platform.

The lottery will offer Shenzhen citizens a chance to win 88, 100 and 128 eCNY red packs.

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