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ABC News
ABC News
Business

China's digital currency raises concern as wages of thousands of public servants moves to e-CNY

At least 260 million personal accounts have been created for eCNY in China.   (Reuters: Aly Song)

Starting this month, thousands of workers in a Chinese city will be paid their wages entirely in digital yuan, in what has been described by the central government as a "milestone" for the currency.

Public servants and workers at state-owned enterprises in Changshu, Jiangsu province, will be able to pay for goods and services using the digital yuan, also known as e-CNY via their phones, much like the smartphone payment system.

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