Tuesday, 01 December 2020 01:32

Suzhou to Launch Digital Currency Red Envelopes for Double 12 Festival

Following the successful pilot scheme run in Shenzhen in which a total of 10 million digital yuan was distributed to 50,000 winners of red envelopes in a lottery format draw, Suzhou will now be the second Chinese city to roll out a “red envelope” trial for the forthcoming digital currency. The launch of the digital RMB red envelopes will coincide with the Double 12 shopping festival which takes place on December 12th. Many businesses have reportedly already installed near-field communication QR codes in anticipation of the trial.

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