Digital Yuan ready to launch at the 2022 Beijing Olympics
The People’s Central Bank of China has confirmed that the country will allow foreign tourists to use the digital yuan (e-CNY) at the Winter Olympics next month.
Bloomberg announces that visitors will be able to download a smartphone app or use a “physical map”.
A number of shops, cafes and other retail outlets in Beijing have been equipped with vending machines that accept digital RMB payments.
The Olympic Village Operations Group Manager said that only digital yuan and Visa cards will be accepted in the region.
It is reported that all visitors will also be constantly notified about the possibility of payment in digital currency. According to Bloomberg, commercials featuring e-CNY have already started running in Beijing.
In addition, Bank of China announced that users will be able to convert foreign currencies to e-CNY tokens on their own, as well as using “bracelets that act like e-wallets.