In Brief:
- JD.com accepted digital yuan (e-CNY) for payment on its e-commerce app for the Singles Day promotion period.
- According to the spokesperson of JD, JD.com became the first Chinese e-commerce company to accept e-CNY in December 2020.
E-commerce giant, JD.com took payments in China’s Digital Yuan at a “massive shopping event”.
As per the reports, JD.com accepted digital yuan (e-CNY) for payment on its e-commerce app for the Singles Day hype period which began on October 31 and ended on November 11.
By simply typing “e-CNY” on JD’s app, users will get directions on how to download China’s digital currency app. Those users will be granted 15 yuan ($2.34) to spend. On this, JD is collaborating with China Construction Bank.
A spokesperson for JD.com informed, “100,000 people had used e-CNY on JD.com’s app during the Singles Day promotion period as of today.” “We will continue to work with related parties to explore the application,” the spokesperson added. However, representatives refused to enunciate the value of e-CNY processed during the promotion.
Further, the spokesperson explained that JD.com became the first Chinese e-commerce company to accept e-CNY in December 2020.
The spokesperson further stated that as many as 450,000 customers have reportedly used e-CNY for payment on the JD.com app from December 11 last year to June 18, 2021, with total sales in e-CNY netting over 100 million yuan ($15.6 million)
JD.com was founded in 1998 and is a major e-commerce company in China, establishing itself as China’s largest online retailer, on top of being China’s “biggest internet company by revenue.”
In addition to its involvement with digital currency, JD.com has also exhibited its NFT interests with the series of NFTs it had released in October. Not just this, JD.com has also been a part of China’s Digital currency/Electronic Payment feat by paying its employees in Digital currency.
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