Changshu City in Jiangsu Province is aiming to expand the usage of digital yuan called the e-CNY in the country.
Starting next month, Changshu City will begin paying employees of public institutions and government workers in digital yuan. The Jiangsu provincial government unveiled a strategy in February to expand the adoption of the digital yuan by 2025.
Changshu City has been utilizing digital yuan since June 2022 to pay 4,900 state enterprise employees 2.5 million yuan ($363,000) for overtime work. Whether or not the program will be expanded to other areas of the province is yet to be determined.
Compiled by Coinbold