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Chinese municipal bank issues first-ever digital yuan loan using intellectual property as collateral

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As reported by local news outlet Sohu, on Wednesday, the Agricultural Commerce Bank of Zhangjiagang, located in China's Suzhou province, announced that it had issued a 500,000 digital yuan (e-CNY) loan with intellectual property backing it as collateral.

The loan was issued via unanimous approval by the city's consumer markets regulator, financial markets regulator and municipal officials.

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