The “digital yuan”, which has not yet been released by the People’s Bank of China and is in the testing phase, was accepted as a means of payment for the first time.
Chinese e-commerce giant JD.com became the first company to accept digital yuan as a payment tool on its e-commerce platform during the “Singles Day Festival”.
It has been stated that more than 100,000 people have used the digital yuan so far during the festival, which started on October 31st and lasted until November 11.
It is accepted as a means of payment during the world’s largest event, thus testing the digital yuan in a large-scale environment. Users who type digital yuan on JD.com both learn how to download the digital currency application and earn 15 yuan that they can spend on the platform.
JD.com stated that it is collaborating with “China Construction Bank” for large-scale testing.
JD.com was the first online platform to accept digital yuan, and in April it paid some of its employees using digital yuan.
The number of digital yuan wallets in China continues to increase day by day. In China, which has around 140 million wallets, 10 million of which are institutional, digital yuan wallets are expected to increase after this festival.
Among the biggest reasons for China’s policy of pressure on Bitcoin and cryptocurrencies was the work of the digital yuan. China has banned Bitcoin and other cryptocurrencies because it does not want an alternative and rival currency to its own currency.