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China’s 180M digital yuan airdrop, Devastation in Turkey, Laos’ CBDC: Asia Express

Published 02/09/2023, 04:30 PM
Updated 02/09/2023, 04:40 PM
China’s 180M digital yuan airdrop, Devastation in Turkey, Laos’ CBDC: Asia Express

Our weekly roundup of news from East Asia curates the industrys most important developments.

China airdrops 180 million digital yuan to celebrate Lunar New Year

According to state-owned media Global Times, Chinese cities airdropped a total of 180 million digital yuan (e-CNY) worth $26.6 million to boost consumption during the Lunar New Year celebrations between Jan. 22 and Feb. 5. Nearly 200 digital yuan activities were launched during the festival, and commercial institutions also participated in these promotions, covering various sectors such as mobile communications, supermarkets, transportation and tourism.

Data from Meituan, a popular Chinese food delivery platform, showed that its 20 million digital yuan vouchers given out in partnership with the city of Hangzhou government were claimed in less than 10 seconds. China has prioritized the development of its central bank digital currency (CBDC) as part of its digital economy transformation, with numerous local party officials receiving key performance indicator targets regarding their efforts to promote the currency.

Chinas state-owned television also hosted a metaverse event for its Lunar New Year program this year. Source: FuXi.

Asia-Pacific crypto exchanges donate to Turkey

Laos made-in-Japan CBDC

The DLak proof-of-concept inauguration event. Source: Soramitsu

Binance halts dollar deposits and withdrawals

Damus censored in China

Huobi lists FTX debtors coin

Binance returns to South Korea with acquisition

Gopax CEO Lee Jun-haeng. Source: Daum

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