Currency Economy

Chinese banks pilot digital yuan at Shanghai department stores

Cryptocurrency (Mar 11, 2021 08:41AM ET) Chinese banks pilot digital yuan at Shanghai department stores

Chinese banks pilot digital yuan at Shanghai department stores

Shanghai’s New World City and New World Daimaru Department Store, and food caterer Taikang Food Store handled thousands of digital yuan transactions over the past weekend, Shanghai Daily reports.

As part of the trial, the retailers featured digital yuan payments as part of a sales campaign in conjunction with International Women’s Day. Brand director of Shanghai New World Li Wei said that the firm reached out to commercial banks to offer discounts as part of the campaign.

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