China Showcases Digital Yuan at Asian Games: A Landmark Moment for CBDC

China Showcases Digital Yuan at Asian Games: A Landmark Moment for CBDC



China is gearing up to promote its digital yuan more broadly, using next month's Asian Games as the stage to introduce its Central Bank Digital Currency (CBDC) to an expansive international audience for the first time.



For the games, which will take place in Hangzhou, Zhejiang Province, from September 23 to October 8, residents in the test areas will be able to purchase tickets using China's official CBDC app. This marks the first time a major sports event in China will accept this form of payment.



This occasion is particularly significant for Beijing, as it's the first large-scale international sports event the country is hosting since easing COVID-19 restrictions. The government sees it as a pivotal moment to showcase its digital currency.



According to Cebnet, state-owned banks and e-commerce platforms are expected to take


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