ECNY - China's Central Bank Digital Currency

Millions of dollars worth of China's central bank digital currency has been handed out across the country over the lunar new year period in a bid to boost its uptake. The first time the government has done so since recently relaxing COVID-19 restrictions, multiple cities reportedly gave away over 180 million won,. which is worth $26.5 million worth of CBDC and programs such as subsidies and consumption coupons. In December a former Chinese central banker called the results of the ECNY trials, quote, not ideal, and admitted, quote, usage has been low, highly inactive. On February 1, senior ruling party officials in the city of Shazhu set a tentative key performance indicator for the end