More than 2.6 million users signed up for the City of Shenzhen’s digital yuan airdrop

2022.07.15 11:01

More than 2.6 million users signed up for the City of Shenzhen’s digital yuan airdrop

According to data obtained from local news outlet Sohu (NASDAQ:SOHU).com, the Shenzhen Chamber of Commerce has recorded over 2.6 million signups for its latest digital yuan, or e-CNY, airdrop. Two months prior, the City of Shenzhen announced that it would be airdropping 30 million of the e-CNY central bank digital currency, or CBDC, to local residents to stimulate consumer spending as a recovery measure to the country’s strict coronavirus lockdown.

Users who received the airdrops through a randomized lottery selection could then spend the e-CNY vouchers at various participating merchants’ terminals on Meituan, one of China’s leading e-commerce platforms. The event, which ran from May 30 to June 19, attracted more than 67,000 merchants.