China’s e-CNY digital currency has doubled its user base ahead of the Winter Olympics.
At the end of December, the y-CNY was used in transactions totaling $13.8 billion as the central bank promoted its currency. The currency does not have an official nationwide launch date, but is being tested in some cities and Olympic venues.All arrived athletes and other participants in the competition can pay for any goods inside the Olympic villages through WeChat or using special cryptocurrency bracelets. Also, goods can be paid for with a Visa bank card.
e-CNY’s rapid rise is part of the central bank’s aggressive push to accelerate adoption of the country’s central bank digital currency (CBDC)