May 15, 2021

One of the largest retailers started paying salaries in digital yuan

Among other things, JD.com has used the national digital currency when making payments between enterprises in cooperation with partners.

One of the largest Chinese retailers JD.com said it has begun using the People's Bank of China (DCEP) electronic payment system to pay some employees' digital yuan salaries. The company also used the national digital currency when making payments between enterprises in cooperation with partners.

Last September fintech divisionthe retailer has become a partner of the People's Bank of China in the development of DCEP, Cointelegraph reported. In December 2020, the company began accepting the digital yuan as a way to pay for goods on its site.

Digital yuan testing in China began inOctober last year. More than 2 million people applied for participation in the lottery. 50 thousand users were selected, each of whom received 200 yuan (about $ 30). The money could be spent at one of the 3,389 outlets that participated in the project, but it cannot be transferred to another person or withdrawn to a bank account.

Earlier it became known that the digital yuan mayget an "expiration date". This feature will allow the regulator to “turn off” digital yuan after a certain date, encouraging the population to spend money quickly to help the economy accelerate.

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