​China’s Fujian Province Has Processed $22bn Worth of Digital | Bitcoin Industry

​China’s Fujian Province Has Processed $22bn Worth of Digital Yuan

Residents and firms based in China’s Fujian Province have reportedly processed almost $22 billion worth of digital yuan transactions to date – as the nation’s central bank digital currency (CBDC) continues to gather pace.

The province was added to the CBDC pilot zone last year. And it broke ground in October when it conducted the nation’s first digital yuan-powered land transfer deal.
Per Fujin News, official figures from the province show that citizens’ digital yuan commercial spending has hit the $14.5 million mark.

It also explained that it – and its partners – had handed out almost $9 million worth of digital yuan tokens in promotional events.
A combined total of 2,572 merchants and vendors in the province now accept digital yuan payments.

This number includes toll booths on the Fuxia (Fujian-Xiamen) Expressway – a major network of highways that passes through the province.