Chinese digital yuan trial to be held in Suzhou as the central bank gears to roll out the CBDC.

News Snapshot:

Suzhou to trial the digital yuan, with administrators preparing to roll out central bank digital currency infrastructure in the coming weeks. Suzhou is to become the next city to trial China’s digital yuan, as the People’s Bank of China prepares to roll out central bank digital currency infrastructure in the coming weeks. Next month all residents across Chinese city Suzhou will receive the central bank digital currency in so-called “red packets,” with 50,000 packets of the digital currency to be given away through a local lottery. The digital yuan trial will take place on December 12. According to the local...