The Beijing Metro Already Accepts Digital Yuan Amid The Country’s Efforts To Expand The Use Of That Digital Currency

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This Wednesday, the Beijing subway has launched a pilot program that allows passengers to access the transport system through digital yuan payment, informs Global Times.

According to the Municipal Public Transport Commission of the Chinese capital, from now on this service is available on all 24 subway lines and four suburban railway lines in the city.

Currently, people who have a bank account with the Industrial and Commercial Bank of China can pay with digital yuan, and it is necessary to download a mobile application linked to that account.

The city subsequently plans expand the use of digital currency and continually improve the digital travel experience for citizens.

On Tuesday, the Suzhou city authorities in Jiangsu province also announced that it will soon be possible to pay for tickets in digital yuan for travel on one of the local subway lines. Chengdu, in turn, is also preparing to introduce the use of the digital yuan in public transportation.

Previously started a test program of the digital yuan in an amusement park from Beijing, allowing customers to pay with digital currency in numerous stores.

In recent months, the Chinese authorities have distributed millions of digital yuan to citizens through a series of lotteries held in various cities as part of its testing program and it is planning to expand this program in the future.

In April, Bloomberg reported that the Chinese government’s plans to boost payments with the digital yuan They have put the Joe Biden Administration on alert, which is studying the measure’s potential implications for both the dollar and its own policies.

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The country’s central bank – the Chinese People’s Bank – revealed last year its plans to launch a digital currency for the Beijing 2022 Winter Olympics and detailed that the new payment system will feature some characteristics of cryptocurrencies, although, unlike these, it will be regulated by the state body.

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