China begins next phase of CBDC testing with e-CNY payment for public transport
2022.08.24 02:25
China begins next phase of CBDC testing with e-CNY payment for public transport
According to multiple sources, on Tuesday, China officially began rolling out the next round of its central bank digital currency (CBDC) pilot test program. In the city of Guanzhou, it is now possible to pay for public bus rides with the digital yuan (e-CNY) CBDC on 10 transit routes, which is a first for the country. To do so, passengers simply need to download the e-CNY app, deposit funds and scan the QR code located in the bus payment section to pay for their ride.
Similarly, the day before, the city of Ningbo said that passengers can now pay for subway rides at 125 stations with e-CNY. Ningbo is the ninth city in China to roll out the e-CNY pilot test in its subway lines, where passengers can simply scan and pay for the journey.
