The Industrial and Commercial Bank of China (ICBC) has rolled out over 3000 ATMs in the capital city of China, Beijing.
These Automated Teller Machines (ATM) activated across Beijing have been powered with a functionality that converts China’s digital yuan, also known as the e-CNY, into cash, and vice versa.
As reported by the Xinhua News Agency on Friday, the Beijing branch of ICBC has activated the functionality across its 3,000 ATMs in the Chinese capital city. This is another sign that China is broadening its current e-NCY tests towards full implementation.
One of the big four state-owned commercial banks, ABC (Agricultural Bank of China) has also joined in the adoption of digital currency ATMs, and has activated 10 ATMs in the Wangfujing district, a key business and shopping region in Beijing.
China’s Agricultural Bank (ABC), initially began testing the feature in January in Shenzhen when the city had its second round of the e-CNY lottery campaign.
Meanwhile, ICBC started testing the same feature on its newly activated ATMs in February in Beijing. This was shown in a video clip posted by The Block, that delivered a first-hand view of how this feature works.
Beijing recently launched the second e-CNY lottery with 40 million digital Yuan valued at approximately 6.3 million U.S. dollars.
Since October, a total of 6 Chinese cities (Shenzhen, Suzhou, Beijing, Chengdu, Changsha, and Shanghai) have held 11 rounds of e-CNY lottery. The total amount of digital renminbi exceeds 250 million and is worth about US$1. 40 million.
The recent sweepstakes held in Shanghai increased the number of winners of the e-CNY lottery to 350,000 local residents, thus greatly expanding the scope. In all previous tests in other cities, the number of winners was limited to 200,000 residents each time.