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31 July 2021

China Offers Medics Digital Yuan Insurance Policy for Covid-19 – Bitcoin News

China Offers Medics Digital Yuan Insurance Policy for Covid-19 – Bitcoin News


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China’s first insurance policy using the digital yuan for settlement has been issued in Shenzhen, local media reported.

In what has been described as another major step towards wider deployment of China’s central bank digital currency (CBDC), the first digital yuan-settled insurance policies have been launched in Shenzhen, Guangdong Province.

Those who pay for their insurance policies using a digital yuan wallet will also get an exclusive preferential allowance, the publication added.

Public testing of the digital yuan started in Shenzhen in mid-October when the local government and the People’s Bank of China distributed 50,000 red envelopes, each loaded with 200 digital yuan?

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