Chinese schools start accepting payments in digital yuan

The launch of the pilot program was announced by China’s largest state television company (CCTV).

Lu Xin Middle School in Hainan Province, China, has provided students with the opportunity to pay for meals with digital yuan. To do this, the school was supplied with a special device that allows for such transactions.

The digital yuan, also known as e-CNY, is a digital currency issued by the Central Bank of China (CBDC) and is being tested in 23 regions and cities.

Currently, at least 19 universities and colleges, as well as four middle and high schools, have started accepting payments in digital yuan.

The use of the digital yuan has recently been expanded to include various forms of public transportation and municipal services, including subways, buses, trains, toll highways, taxation, and social security.