China’s digital yuan is now accepted on Guangzhou city trams and trains in Xiamen

China’s digital yuan is now accepted on Guangzhou city trams and can be used to top up Xiamen’s public transport cards, as municipalities join the Expanded network of cities using digital currency.

Digital yuan gets green light on buses, and trains in Xiamen, Guangzhou cities

According to Guangzhou local media, passengers on the city’s Tram Line 1 can now pay for their fare using the digital yuan app’s payment QR code. Xiamen City’s public transport can reload cards with digital yuan starting May 6.

Xiamen’s public transport system will next allow passengers to pay for tickets with a digital yuan payment QR code. With Guangzhou and Xiamen, at least 12 of China’s 23 pilot cities for digital yuan have begun accepting such payments on their public transport systems.

The digital yuan, or e-CNY, is China’s central bank digital currency (CBDC), which began public testing in October 2020 and is currently piloting in 23 cities in China.

The total number of transactions using e-CNY reached 87.565 billion yuan ($11.238 billion) by the end of 2021, China’s central bank announced in January.

Read more:

Follow us on Telegram

Follow us on Twitter

Follow us on Facebook

You might also like

LATEST NEWS

LASTEST NEWS