China's central bank digital currency (CBDC), the digital yuan, has found new usage cases in the fields of housing aid and public resource transactions. The Jiangsu Provincial Government Affairs Office has begun using the CBDC in 10 new "application scenarios," while banks and local authorities in Nanjing have begun the "integrated use of the digital yuan" in the mandatory mutual aid platform housing provident fund. Authorities have issued a set of guidelines that will allow market participants to learn how to use the CBDC in their housing provident fund operations, settlement, financing, and accounting. The digital yuan has been used in over 5,500 transactions, paying for settlements worth around $204 million. The CBDC is also being used to pay experts for state-run projects, settlement fees for state-owned property rights transactions, and state-owned assets rental deposits.

(By Tim Alper)