JD.com to Build Apps for China’s Digital Yuan Project: Report
The Chinese e-commerce giant has reportedly agreed to help the nation's central bank develop infrastructure including a wallet for its cash-equivalent digital currency.
A recent giveaway of China's in-testing central bank digital currency has reportedly left recipients wondering why they should change from existing solutions like Alipay.
Around 50,000 digital "red envelopes," reminiscent of the traditional gifts doled out in China for special occasions and each containing 200 digital yuan ($29.60), were handed out Monday.
A cross-boundary digital yuan could bring Hong Kong closer to China, Hui said.
Chen Yulu, deputy governor of the People's Bank of China, said over the weekend the digital yuan project should be accelerated as an important part of the nation's financial infrastructure.
A local report suggests the pilot is an indication the digital yuan is close to being launched.