JD.com – China’s largest retailer


China’s largest retailer to accept digital yuan

  • Another urban district in China joins the public digital yuan experiment

  • China’s Largest Retail Chain Announces Digital Currency Support

  • Local authorities are expected to give away 20 million digital yuan

International consortium of news organizations, developing transparency standards.

China’s largest electronics supplier JD.com has officially confirmed the inclusion of the digital yuan in the list of payment methods

Chinese e-commerce giant JD.com added digital yuan support.

The largest retail chain in China ...

Writes about this Reuters, referring to a statement within the company.

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Digital yuan can be used to pay for a range of goods in the online store of the fintech division of the retail chain JD Digits. We will remind, earlier the authorities of Suzhou announced a lottery of 20 million digital yuan (~ $ 3 million). As part of the action, the municipal authorities of Suzhou and the People’s Bank of China (NBK) will give away 200 digital yuan (~ $ 30) per 100 thousand people.

Public experiment

Chinese authorities are accelerating with testing of the digital currency, which is tentatively scheduled to launch in time for the 2022 Winter Olympics. Many businesses in Xiangcheng, Suzhou have already installed NFC and QR codes to accept digital yuan payments, The Paper reports..

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This is the second major digital currency distribution initiated by the People’s Bank of China as part of the beta testing of the new coin..

The largest retail chain in China ...

According to preliminary information, payment in digital yuan will also occur offline, which was not the case with the lottery in Shenzhen..

Read also: China Considers Outright Ban on Private Crypto Issuance

However, the digitalization of the economy in the country is accompanied by repressive measures in relation to participants in the cryptocurrency industry. This primarily applies to miners, cryptocurrency exchanges, as well as private issuers of digital coins pegged to the yuan..

The editorial staff of BeInCrypto previously reported that several miners from the Yunnan province announced the decision of the regional leadership to disconnect the farms from electricity in order to save electricity. It is worth noting that Yunnan is in third place in the activity of cryptocurrency miners in China after Sichuan and Xinjiang, therefore, the stop of mining farms could negatively affect the cryptocurrency market..

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