China Expands Use of Digital Yuan to Covering Utility Bills

China further expanded the use of the digital yuan by enabling consumers to use it to pay utility bills.

The digital yuan, also known as the e-CNY, is a legal currency in digital form issued by the central bank. The People’s Bank of China (PBOC) recently updated its e-CNY mobile wallet app, adding new features that allow users to pay water, gas, electricity, heating and phone bills with the digital yuan.