E-commerce giant JD.com accepted payments in China's central bank digital currency (CBDC) at a massive local shopping event.
JD.com accepted digital yuan (e-CNY) for payment on its e-commerce app for the Singles Day promotion period that began on October 31 and ended on November 11, the firm confirmed Thursday.
Singles Day is an unofficial shopping holiday in the country that also celebrates people who are not in a romantic relationship.
"100,000 people had used e-CNY on the JD.com app during the Singles Day promotion period starting today," a JD.com spokesperson told Cointelegraph.
"We will continue to work with related parties to explore the application," the spokesperson added. The representative declined to specify the value of the e-CNY processed during the promotion.
The representative noted that JD.com became the first Chinese e-commerce company to accept e-CNY in December 2020. Up to 450,000 customers used e-CNY to make payments on the JD.com application since December 11 of the year. last until June 18. , 2021, with total sales in e-CNY exceeding 100 million yuan ($ 15.6 million), the spokesperson said.
Founded in 1998, JD.com is a major e-commerce company in China, positioning itself as the largest online retailer in China as well as being the "largest Internet company in China by revenue." The company has actively adopted China's CBDC, debuting the digital yuan for salary payments in April 2021.
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After Implementation of the first CBDC tests In 2020, the People's Bank of China has been actively promoting the use of its digital currency in the country. In October 2021, more than 140 million people digital accounts registered in yuan, with nearly $ 10 billion spent on e-CNY despite the CBDC not being officially launched so far.
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