China activates digital yuan to money conversion on 3000 ATMs

Beijing has installed over 3,000 automatic teller machines (ATMs) that convert China’s electronic yuan, also called e-CNY, into money and vice versa.

As reported by Xinhua news agency on Friday, the Beijing branch of Industrial and Commercial Bank of China (ICBC) has enabled the feature on its 3,000 ATMs in the Chinese capital. It is just another indication that China is expanding its continuing e-CNY trials towards complete rollout.

Agricultural Bank of China (ABC), also one of four major state-owned commercial banks with ICBC, has triggered 10 ATMs with similar characteristics in Wangfujing district, a business and shopping area. Large in Beijing.

ABC first began testing the feature January in Shenzhen when the town was having the next wave of its CNY crypto lottery effort.

ICBC started testing the same feature on 10 of its ATMs in February in Beijing. Earlier, a movie clip supplied a firsthand look at how the feature works.

China’s capital city recently launched its next CNY e-lottery giveaway campaign with 40 million electronic yuan, worth about $6.3 million.

Overall, a total of six Chinese cities – Shenzhen, Suzhou, Beijing, Chengdu, Trường Sa and Shanghai – have ran 11 CNY e-gift raffles since October for a total of amounted to over 250 million electronic yuan, worth about $40 million.

The latest award ceremony in Shanghai expanded its reach especially by raising the amount of CNY e-lottery winners to 350,000 local residents. In all prior tests in different cities, the amount of lottery winners every time was capped at 200,000 residents.

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