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A total of 20m yuan ($3m) will be up for grabs in a lottery. Winners will receive a so-called “red packet” via an app containing a maximum of 200 yuan of the digital currency. A hundred thousand of these red packets will be distributed. Those who receive the digital yuan can spend it on JD.com’s online shopping platform.
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The BIS, a group of central banks, said earlier this year that 80% of the world’s central banks “had already started to conceptualize and research the potential for CBDCs.”
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