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Digital Yuan Eases Project Payments – OpenGov Asia

Three construction project payments were successfully made through China’s digital yuan, or e-CNY, in the eastern Chinese city of Suzhou


Digital Yuan
This marks the first time that digital yuan has been used for project payment in such fields as real estate and urban landscaping. Photo: Reuters.

 

It may not have been introduced to the public, but China’s digital currency is seeing benefits in different sectors of industry, starting with construction, OpenGov Asia reported.

Three construction project payments were successfully made through China’s digital fiat currency, or the e-CNY, in the eastern Chinese city of Suzhou and confirmed by the region’s local Digital Finance Department.

 

Read the full reportOpenGov Asia

 

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George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.