The People’s Bank of China, along with four state departments, is supporting bidding regions in Zhejiang, China’s southeastern province, to carry out the next round of digital yuan pilots.
The report was revealed in a financial policy document that summarised Zhejiang’s financial development plans over the next five years.
Interestingly, the capital city of Zhejiang province Hangzhou, the host of the upcoming 2022 Asian Games is the top contender to pilot the digital yuan.
Infact, it has been revealed that Hangzhou’s local company has signed deals with prominent Chinese banks to include digital yuan payments.
The Olympic Games had recently become a global stage for crypto stunts. For instance, the central bank digital currency (CBDC) of China was initially put to test in 10 cities and had a high-profile showcase at the Beijing Winter Olympics in February.
In a similar fashion, the Olympic Games had also announced the debut of a mobile game featuring NFTs themed on the 2022 Beijing Winter Olympics.
