Chinese banks ask employees to promote e-yuan

Chinese banks are putting the onus on their employees to push the country's digital currency, the e-yuan, as a replacement of FIAT money.

According to a publication in Shenlian Caijing, a local media outlet, the Commercial Bank of China and the Bank of Communications has asked employees to promote digital yuan wallets to as many as 200-300 people.

Employees are not unprepared as the banks are providing them with various small gifts to use as incentives.

Citizens who choose to sign up for the e-yuan may get card holders, umbrellas, tissues, laundry detergent, data cables and more in what seems to be a bizarre way to promote the new financial tool.

Banks have been trying to promote the new central bank digital currency (CBDC) as the country sees the e-yuan as a way to establish further independence from the global markets controlled by the US.

The e-yuan will face some competition at home though, as many Chinese users are already using Alipay and WeChat to carry out digital payments and they may not be readily persuaded to make the switch to the CBDC.

However, there have been various incentives to make this happen. The local government of Chengdu in the Sichuan province has issued a total of $1.85m in e-yuan as lottery winnings to 100,000 residents.

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Written by Barney

Co-founder

Barney is co-founder of CryptoGamblingNews.com. When not at work he can usually be found behind a Nikon. He's won numerous international competitions for his photography and volunteers as a content creator for aid organisations in Africa.

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