Trials of China's central bank digital currency (CBDC) have reached the subway system in the capital city, Beijing.
- Subway passengers with Industrial and Commercial Bank of China's (ICBC) mobile app can use the digital yuan to pay their fares, according to an announcement Wednesday.
- The digital yuan, known as e-CNY, has been in trials around the country for several months.
- Beijing is one of three cities to have held a lottery with winnings distributed in digital yuan.
- The announcement today signals trials reaching a use case with a potential mass consumer base.
- Beijing's subway system is among the world's busiest, with a daily average number of passengers of more than 10.5 million in 2018.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.