Media: Civil servants in Suzhou will receive digital currency of the Chinese Central Bank in May The national currency of the Central Bank of China (DCEP) will be issued in Suzhou to local government employees in May, according to the China Star Market, citing an official document.

Media: Civil servants in Suzhou will receive digital currency of the Chinese Central Bank in May

The Central Bank of China National Currency (DCEP) will be released in Suzhou to local government officials in May, China Star Market reports, citing an official document.

According to him, the digital currency will be used to pay 50% of the transport subsidies due to them. Four state-owned banks will be engaged in its issue: Agricultural Bank of China, Industrial and Commercial Bank of China, Bank of China and China Construction Bank.

In the document, all government departments are asked to conclude a contract for the release of DCEP with the mentioned banks in advance of the May launch, even if they are serviced by other banks. All employees need to install digital wallets developed by these banks to receive subsidies.

China Star Market also states that payment company Alipay has confirmed its involvement in the technological development of DCEP, including its issuance and circulation mechanisms..

This week, the first test version of the application for working with DC / EP hit the net. Its structure resembles other payment applications widely used in China, including Alipay and WeChat Pay. Suzhou is in the list of four regions from where it is possible to register an account.

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