Big state-owned lender Bank of Communications (BOCOM) is pioneering the use of China’s central bank digital currency (CBDC) to support the provision of financial inclusion loans in the Jiangsu province city of Suzhou.

BOCOM announced that it recently provided a financial inclusion loan to a start-up automobile tech enterprise in Suzhou in the form of the digital renminbi.

Bank of Communications Uses Digital Renminbi for Financial Inclusion Loans in Suzhou comes via ChinaTechNews.com.