Shanghai to hand out millions in digital-currency envelopes

Updated: Jun 5, 2021 Xinhua Print

Share - WeChat

A sign indicating digital yuan, also referred to as e-CNY, is pictured at a shopping mall in Shanghai, China April 21, 2021. Picture taken April 21, 2021. [Photo/Agencies]

Shanghai will hand out 19.25 million yuan (about $3 million) in digital currency to consumers in the city through a lottery system, the Information Office of Shanghai Municipality said Friday.

A total of 350,000 digital red envelopes, each containing 55 yuan of digital currency, will be given to lottery winners, the office said on its official WeChat account.

Individual consumers in Shanghai can sign up for the lottery through the official WeChat accounts of the Industrial and Commercial Bank of China Shanghai Branch and the cloud service of the Bank of Communications Shanghai Branch between June 5 and 6.