Digital yuan transactions surge, reach $11.24B last year
The numbers are in: digital yuan’s historical transactions reached 87.565 billion yuan (US$11.238 billion) as of the end of 2021, the People’s Bank of China (PBOC) announced on Tuesday.
Fast facts
- The latest tally is a 140% increase since data was last shared with the public in late October.
- The number of personal digital yuan wallets surged 86.4% over the same period to 261 million, the PBOC said.
- China’s digital yuan, or e-CNY, is touted as the most advanced central bank digital currency (CBDC) issued by a major world power.
- There were four digital yuan airdrops from Oct. 22 to Dec. 31 — two in Beijing, one in Qingdao, and one in Haikou.
- Three of the four airdrops in Beijing and Qingdao focused on the distribution of digital yuan for public transportation in the form of coupons.
- The upcoming Winter Olympics is expected to be a high-profile showcase for digital yuan, but the event has closed public ticket sales due to Covid-19 concerns.
