Index Option Calls
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
Index Option Calls
No Result
View All Result
Home Latest News

E-commerce giant JD starts accepting China’s digital currency on Singles Day for the first time

by
November 11, 2021
in Latest News
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

RELATED POSTS

Apple CEO Tim Cook praises China’s innovation, long history of cooperation on Beijing visit

The market’s initial reaction to a Fed rate hike is ‘almost always a head fake,’ Jim Cramer says

GUANGZHOU, China — JD.com is accepting China’s digital yuan for payment on its e-commerce platform during Singles Day for the first time.

While China’s digital currency, the e-CNY, has not officially rolled out nationwide, JD’s move to accept it during the biggest shopping event in the world highlights the Chinese central bank’s push to trial it in a large-scale environment.

JD said that as of Nov. 11, more than 100,000 people had used e-CNY on the company’s app during the Singles Day promotion period, which started on the evening of Oct. 31 and ends on Thursday.

If users type “e-CNY” on JD’s app, they will get instructions on how to download China’s digital currency app. Those users will receive 15 yuan ($2.34) to spend. JD is collaborating with China Construction Bank on this.

China’s digital yuan is not a cryptocurrency.

Instead, it is a digital form of the country’s currency, designed to replace coins and cash in circulation. When formally rolled out, it will be issued via banks and other financial entities by the People’s Bank of China, the central bank.

Throughout last year and this year, cities around China have been trialing the digital yuan by giving out free money via lotteries to citizens. There are still no concrete plans for a nationwide rollout.

In December, JD became the first online platform to accept the Chinese digital currency. And in April, the company said it had paid some employees using e-CNY.

Singles Day, which sees China’s e-commerce players tout heavy discounts and rake in billions of dollars of sales, could be a good test to see how the digital currency holds up in a large-scale situation.

Since Dec. 11 to Jun. 18 this year, 450,000 customers have used e-CNY payments on the JD app and collectively spent over 100 million yuan (about $15.6 million). Those are the last public figures on spending using the digital currency that JD has released.

ShareTweetPin

Related Posts

Apple CEO Tim Cook praises China’s innovation, long history of cooperation on Beijing visit

by
March 25, 2023
0

The world's biggest iPhone factory, located in China and run by Foxconn, faced disruptions in 2022. That is likely to...

The market’s initial reaction to a Fed rate hike is ‘almost always a head fake,’ Jim Cramer says

by
March 25, 2023
0

CNBC's Jim Cramer said on Friday that this week was the latest example of the market gone crazy after a...

Biden says federal deposit insurance could be tapped further if banks fail

by
March 25, 2023
0

The Federal Deposit Insurance Corp. (FDIC) headquarters in Washington, DC, US, on Monday, March 13, 2023. Al Drago | Bloomberg...

Foundation of China’s economic recovery not solid enough, party official says

by
March 25, 2023
0

A general view shows the skyline over the Central Business District in Beijing on February 28, 2023. Jade Gao |...

Jack Dorsey’s Wealth Tumbles $526 Million After Hindenburg Short

by
March 25, 2023
0

S&P 500 3,970.99 +22.27(+0.56%)   Dow 30 32,237.53 +132.28(+0.41%)   Nasdaq 11,823.96 +36.56(+0.31%)   Russell 2000 1,734.92 +14.63(+0.85%)   Crude...

Next Post

Stock futures are muted after sell-off induced by hot inflation data

Governments and Big Oil were first. The next wave of climate lawsuits will target banks and boards

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:

By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

MOST VIEWED

  • A Couple Stored IRA Gold at Home. They Owe the IRS More Than $300,000.

    0 shares
    Share 0 Tweet 0
  • A California Couple Spent Eight Years Building Their Dream Retirement Home in Costa Rica

    0 shares
    Share 0 Tweet 0
  • Goldman Sachs says buy these stocks to play Web 3.0 and the metaverse

    0 shares
    Share 0 Tweet 0
  • Goldman Sachs picks new stocks to buy — and says these 5 have over 100% upside

    0 shares
    Share 0 Tweet 0
  • In his final warning, this stock trading wizard — who made big money in bear markets and crashes — called this market a bubble like no other

    0 shares
    Share 0 Tweet 0
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy
All rights reserved by www.indexoptioncalls.com
No Result
View All Result
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy

All rights reserved by www.indexoptioncalls.com