Beijing subway has officially launched a new program that allows passengers to pay for rides with the central bank digital currency (CBDC) also known as the digital yuan. The news follows the subway system in East China’s Jiangsu province in the city of Suzhou which also allows digital yuan payments for subway fares. Digital Yuan Can Now Be Used to Pay for Fares on China’s Major Public Transport Railways China’s capital of Beijing and the People’s Bank of China (PBOC) has been moving fast in regard to pushing CBDC adoption in the country. There’s been a bunch of red envelope lotteries giving the digital yuan away to citizens, 3,000 automated teller machines (ATMs) now allow digital yuan withdrawals in Beijing, subcontractors are being paid in the CBDC in China’s Xiong’an New Area, and Hong Kong is connecting with the CBDC. On top of all that JD.com employees have been paid in the digital yuan and firms like Mastercard, Ant, Tencent, and Alibaba have been engaging with the CBD
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