The Industrial and Commercial Bank of China (ICBC) has added the ability to convert yuan into a digital version (CBDC) and back at more than 3,000 ATMs in Beijing. The information agency «Xinhua» reports this.
According to the media, ICBC is the first bank in the country to offer full support for withdrawals and deposits of the digital yuan.
Earlier, the state-owned Agricultural Bank of China tested CBDC in its ATMs in Shenzhen.
In October 2020, there was the first mass testing of the digital yuan in Shenzhen, which was organised and had already involved three distributions. CBDC trials also included Suzhou, Chengdu and Changsha.
In total, China handed out about $39 million during the digital yuan experiments.
In June 2021, Beijing authorities distributed more than $6 million as part of CBDC testing. This was the second lottery in the capital — in February the administration distributed 10 million digital yuan among residents.