In Guangzhou, you can pay for transportation with cryptocurrency

China’s digital yuan is now accepted on city trams in Guangzhou (population 18 million) and can be used to map Xiamen’s public transportation as megacities join the network of cities using the digital currency.

The digital yuan, or e-CNY, is a digital currency issued by the Central Bank of China (CBDC) that began public testing in October 2020 and is currently being piloted in 23 cities across China.

In more than half of these cities, it has already become possible to pay for transportation with digital currency, as the Chinese population is accustomed to virtual payments based on WeChat and therefore easily accepts the new product.

Currently, more than $ 12 billion (equivalent) of digital Chinese yuan is in circulation.