February, 2023. Suzhou, China - XGD INC. has made significant strides in its digital currency initiatives at the start of the year. On February 1, XGD INC. participated as a pioneering partner in Suzhou's digital yuan efforts at the "Suzhou Digital Currency Pilot Promotion Conference and Annual Summary Meeting." Following this, on February 4, JLPay, a subsidiary of XGD INC., officially established its Suzhou branch during the "Focus on Dual Centers, Achieve New Milestones" industry integration development conference and key project signing event.
In September 2022, XGD INC. first collaborated with the Suzhou government in the realm of digital currency, unveiling the Digital Currency Application Laboratory as a "Key Digital Financial Industry Project." Leveraging Newguodu's innovation and technical expertise in digital payments, the laboratory focuses on upgrading financial institutions' digital yuan systems, providing technical support for the customization of related products and systems, and actively promoting the application of digital yuan.
The establishment of the JLPay Suzhou branch marks a significant achievement in the upgraded collaboration between XGD INC. and Suzhou. Just three days after the summary meeting, the Suzhou branch officially signed its agreement to settle in the Suzhou High-speed Rail New City.
Previously, JLPay operated a Jiangsu branch for over a decade, maintaining active partnerships with local banks such as the Minsheng Bank, Industrial Bank, and ICBC. The Jiangsu branch boasts a direct sales team of nearly 100 members, deeply engaged in consumer sectors like dining and retail, providing acquiring and digital marketing services to small and micro businesses.
The Suzhou branch team, while originating from the Jiangsu branch, has a clear focus and unique advantages in its business direction. Backed by the Digital Currency Application Laboratory, the Suzhou branch combines operational resilience and flexibility to offer comprehensive digital payment solutions. Additionally, it can provide diverse scenarios for redeeming digital yuan consumption vouchers, fostering a sustainable cooperation model that integrates "government subsidies + bank/business resource input." With robust support from Suzhou's clear policies for digital economic development, XGD INC.'s digital yuan initiatives are poised to reach new heights.
During the summary meeting, the Suzhou Municipal Financial Regulatory Bureau officially released the "Three-Year Action Plan for the Development of Suzhou's Digital Financial Industry (2023-2025)." The plan sets ambitious goals for 2023, including achieving a cumulative digital yuan transaction volume of 20 trillion yuan, ensuring 100% coverage of digital yuan in public service payments, and increasing the transaction volume in the consumer sector fourfold, with an average of 1 million active users per month.
The goals for deepening the digital yuan pilot program are inspiring. In 2023, XGD INC. is committed to seizing opportunities for digital transformation and innovation, forging a new landscape of collaborative success to support the high-quality development of the digital economy industry chain.
