{"id":36871,"date":"2021-02-23T10:42:48","date_gmt":"2021-02-23T08:42:48","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=36871"},"modified":"2025-08-29T08:32:57","modified_gmt":"2025-08-29T05:32:57","slug":"bloomberg-tencent-and-ant-group-backed-banks-to-test-the-digital-yuan","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bloomberg-tencent-and-ant-group-backed-banks-to-test-the-digital-yuan\/","title":{"rendered":"Bloomberg: Tencent- and Ant Group-backed banks to test the digital yuan"},"content":{"rendered":"<p>Two Chinese banks will test the digital yuan with the support of Tencent and Ant Group. <a href=\\\"https:\/\/www.bloomberg.com\/news\/articles\/2021-02-22\/china-enlists-ant-backed-mybank-in-expanding-digital-yuan-trial\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">Bloomberg<\/a> reports this.<\/p>\n<p>\\n<\/p>\n<p><!--more--><\/p>\n<p>\\n<\/p>\n<p>According to the source, WeBank and MYbank will be the first among private financial institutions to offer customers yuan-denominated digital wallets for transfers and payments. Previously, the experiment was conducted by four state-owned banks in China.<\/p>\n<p>\\n<\/p>\n<p>In October, the authorities of Shenzhen <a href=\"https:\/\/u1f987.com\/en\/news\/digital-yuan-airdrop-drew-nearly-2-million-people\">were the first to distribute<\/a> the national digital currency (DCEP) among the population. On December 12 in Suzhou <a href=\"https:\/\/u1f987.com\/en\/news\/suzhou-to-pilot-digital-yuan-distribution-through-red-packets\">distributed &#8220;red envelopes&#8221;<\/a> totaling about $1.5 million.<\/p>\n<p>\\n<\/p>\n<p>In January in Shenzhen, <a href=\"https:\/\/u1f987.com\/en\/news\/shenzhen-to-hold-third-mass-test-of-digital-yuan\">they repeated a mass experiment<\/a> in using the DCEP. Residents received 20 million digital yuan worth about $3.1 million.<\/p>\n<p>\\n<\/p>\n<p>The testing of the digital yuan also took place in Chengdu, where <a href=\"https:\/\/u1f987.com\/en\/news\/another-chinese-city-to-distribute-digital-yuan\">they distributed 30 million digital yuan<\/a> (about $5 million). Beijing and Shanghai announced <a href=\"https:\/\/u1f987.com\/en\/news\/beijing-and-shanghai-plan-large-scale-testing-of-the-digital-yuan\">plans to back the DCEP experiment<\/a>.<\/p>\n<p>\\n<\/p>\n<p>On February 10, the authorities of Suzhou <a href=\"https:\/\/u1f987.com\/en\/news\/suzhou-to-run-another-digital-yuan-test\">distributed 150,000 &#8220;red envelopes&#8221;<\/a> with digital yuan totaling about $5 million. Lottery winners will be able to spend the funds until February 26.<\/p>\n<p>\\n<\/p>\n<p>As reported, the People\\&#8217;s Bank of China and Hong Kong intend to deploy <a href=\"https:\/\/u1f987.com\/en\/news\/peoples-bank-of-china-and-hong-kong-to-deploy-the-digital-yuan-in-cross-border-payments\">digital yuan in cross-border payments<\/a>.<\/p>\n<p>\\n<\/p>\n<p>Subscribe to ForkLog news on Telegram: <a href=\\\"https:\/\/t.me\/forklogfeed\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">ForkLog Feed<\/a> \u2014 the full news feed, <a href=\\\"https:\/\/telegram.me\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">ForkLog<\/a> \u2014 the most important news and polls.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Two Chinese banks will test the digital yuan with the support of Tencent and Ant Group. Bloomberg reports this.<\/p>\n","protected":false},"author":1,"featured_media":36872,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1095,133,1369],"class_list":["post-36871","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cbdc","tag-china","tag-yuan"],"aioseo_notices":[],"amp_enabled":true,"views":"25","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/36871","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=36871"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/36871\/revisions"}],"predecessor-version":[{"id":36873,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/36871\/revisions\/36873"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/36872"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=36871"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=36871"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=36871"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}