JD.com will become the first e-commerce platform in China to accept digital yuan for both online and offline shopping.

JD.com was formerly the parent company of JD Digits (JDD), which is providing technology support for a digital yuan programme in Suzhou, the second biggest city in the Jiansu province of China.

At the weekend, the municipal government of Suzhou announced it would distribute RMB 20 million yuan (around £2.3 million) in digital currency to its residents.

Suzhou residents can receive digital red envelopes through an online lucky draw to be used online and offline.

Selected products from JD’s first party business will support digital yuan payment and more than 10,000 offline stores, including JD’s home appliance and convenience stores, now accept the digital currency.

In a collaborative project between Suzhou’s Xiangcheng district and JD, residents can also choose to use digital yuan for JD’s cash-on-delivery service.
In September, JDD and the People’s Bank of China’s Digital Currency Research Institute formed a partnership in promoting the research and application of digital yuan.

Share Story: