{"id":22417,"date":"2023-07-20T09:04:00","date_gmt":"2023-07-20T09:04:00","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/digital-yuan-pilot-records-250-billion-transactions-claims-peoples-bank-of-china\/"},"modified":"2023-07-20T09:04:00","modified_gmt":"2023-07-20T09:04:00","slug":"digital-yuan-pilot-records-250-billion-transactions-claims-peoples-bank-of-china","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/digital-yuan-pilot-records-250-billion-transactions-claims-peoples-bank-of-china\/","title":{"rendered":"Digital Yuan Pilot Records $250 Billion Transactions, Claims People&#8217;s Bank of China"},"content":{"rendered":"<p><b>(Originally posted on : Crypto News &#8211; iGaming.org )<\/b><br \/>\n<\/p>\n<div>\n<p>Since the introduction of China\u2019s <a href=\"https:\/\/igaming.org\/crypto\/china-to-push-for-wider-use-of-its-digital-yuan-the-e-cny\/\">digital yuan<\/a> a year and a half ago, the pilot program has seen transactions worth approximately $250 billion, according to Yi Gang, the governor of the People\u2019s Bank of China. He shared this update at a recent conference held in Singapore on July 19.<\/p>\n<p>As per the central bank governor\u2019s comments, the central bank digital currency (CBDC) had processed transactions amounting to 1.8 trillion yuan by the end of June. Since the digital yuan began its journey in January 2022, around 120 million wallets have made close to 950 million transactions, with an average transaction value of about $260.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\"> <strong>350% or 5BTC + <strong>150 Spins!<\/strong><\/strong> <\/p>\n<p>New players only. Exclusive Welcome Bonus &#8211; 350% bonus on your first deposit up to 5BTC <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>Furthermore, Yi Gang reported that around $2.3 billion, equivalent to 16.5 billion digital yuan, was in circulation by the end of June. According to a Reuters report published on July 19, this constitutes a mere 0.16% of China\u2019s total monetary supply.<\/p>\n<p>However, the use of the digital yuan has not yet reached significant levels within China\u2019s 1.4 billion population. It has primarily found utility in domestic retail payments, with a few trial runs in Hong Kong, indicating that there\u2019s still a long way to go for broader adoption.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\"> <strong>177% up to 5BTC + 77 <strong> Free Spins<\/strong>!<\/strong> <\/p>\n<p>New players only. Exclusive 177% Welcome Bonus + 77 Free Spins in Aztec Magic Deluxe <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div><\/div>\n<p><a href=\"https:\/\/igaming.org\/crypto\/peoples-bank-of-china-reports-250-billion-transactions-via-digital-yuan\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Crypto News &#8211; iGaming.org ) Since the introduction of China\u2019s digital yuan a year and a half ago, the pilot program has seen transactions worth approximately $250 billion, according to Yi Gang, the governor of the People\u2019s Bank of China. He shared this update at a recent conference held in Singapore [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":22418,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/22417"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=22417"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/22417\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/22418"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=22417"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=22417"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=22417"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}