95% of Shenzhen red-envelope lottery winners spent their digital yuan prize

47,573 of 50,000 Shenzhen red-envelope lottery winners, each with 200 digital yuan (~$29.50), received and spent the prize. Cointelegraph, citing city authorities, reports this.

The lucky winners executed 62,788 transactions totaling 8.8 million yuan (~$1.3 million). They spent 88% of the 10 million yuan (~$1.5 million) earmarked as part of the pilot distribution.

Under the terms of the lottery, the winnings could be redeemed at 3,389 locations until October 18.

Some participants topped up their wallets, purchasing an additional 901,000 yuan ($134,000).

As part of the pilot project for using the digital yuan, the Guangdong Petroleum gas-station network added it as a payment option.

Earlier in the People’s Bank of China clarified that during testing of the digital yuan-based payment system (DCEP) they conducted 3.13 million transactions totaling 1.1 billion yuan (~$162 million).

ForkLog has also reported that for the Chinese digital currency are testing restricted transaction anonymity. Previously, Dovi Wang stated that DCEP is nothing more than just another payment application.

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