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Latam Insights — Argentina to Complete IMF Payment With Chinese Yuan, Bolivia Also Using China’s Currency for International Settlements
31.7.2023
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue, Argentina is likely to settle part of a payment to the International Monetary Fund (IMF) using the Chinese yuan, Bolivia is already making payments using...
Bolivian Central Bank Using Chinese Yuan for International Settlements
28.7.2023
Economy Minister Marcelo Montenegro acknowledged that the Bolivian Central Bank is harnessing the Chinese yuan in its commercial settlements. The switch to using the Chinese currency has to do with the dollar scarcity that the country is facing, having to approve a law to sell part of its gold...
CFA Institute Survey: Chinese and Indian Investment Professionals Show Strong Support for CBDC
27.7.2023
Investment professionals in both China and India are largely bullish on Central Bank Digital Currency (CBDC), according to a new survey from the CFA Institute.
The association, which provides credentialing for chartered financial analysts, found that 66% of its members in India and 70% in China...
Chinese, Indian investment professionals show strong support for CBDC in new survey
26.7.2023
The CFA Institute asked members around the world how they felt about CBDCs. Their responses might surprise the crypto community
U.S. Senate wants companies to report investments in Chinese technologies
26.7.2023
The Senate showed overwhelming support that would require U.S. companies to report any outbound investments into Chinese technologies
Former Central Banker Discusses How Chinese Yuan Could Become on Par With US Dollar
26.7.2023
A former central banker has explained that three conditions must be met for the Chinese yuan to become a currency on par with the U.S. dollar and the euro. Noting that the yuan is already the third-largest international currency after the USD and the euro, he emphasized that the Chinese...
Chinese Bank Launches CBDC Bulk Commodity Clearing Service – Digital Yuan Adoption Accelerates?
26.7.2023
Banks in China are looking to adopt the digital yuan in more of their operations, and have launched the nation’s first central bank digital currency (CBDC)-powered settlement service for bulk commodity spot clearing.
Per JRJ, Industrial Bank, a Fuzhou-based joint-stock commercial bank,...
Economist Analyzes Challenges of BRICS Currency Competing With US Dollar
26.7.2023
An economist has shared her analysis of how a common BRICS currency could compete with the U.S. dollar. “You need foreign exchange reserves and you need the trust of the investment community,” she explained, noting that the only country in the BRICS economic bloc to carry such a reserve...
Today in Crypto: WeChat & Alipay Enable Foreigners to Pay at Chinese Retailers, ETH 699,816 Paid as Royalties to NFT Projects on Ethereum, Hana Bank & Woori Bank 'Interested in Certificate of Deposit' Tokens
24.7.2023
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________...
Read More: Today in Crypto: WeChat & Alipay Enable Foreigners to Pay at Chinese Retailers, ETH 699,816 Paid as Royalties to...
Singapore, US With Highest Public Debt per Capita, China Most Indebted in BRICS: Study
23.7.2023
Singapore, the United States and Japan top the global chart in terms of sovereign debt per capita, according to research based on U.N. data. The burden of government debt for every American is 10 times heavier than that for a Chinese citizen, according to the study. U.S. Ranks Second in the World...
China’s Central Bank: Digital Yuan Transactions Reach $250 Billion
23.7.2023
China’s central bank governor has revealed that transactions using the country’s central bank digital currency (CBDC) reached 1.8 trillion yuan ($250 billion) at the end of June. In addition, the People’s Bank of China (PBOC) official stated that digital yuan in circulation amounted...
Digital yuan integration introduced to Chinese business air travel
21.7.2023
The Civil Aviation Administration and China Merchants Bank said passengers will be able to utilize the digital currency to access new services via this platform
Central Bank of Argentina Reduces Dollar and Yuan Disbursement to Importers
21.7.2023
Importers are accusing the Central Bank of Argentina of stalling on the delivery of dollar-based payments under the pretext of high freight costs. According to importers, the Argentine government considers freight costs exceeding 15% of the value of the merchandise imported as an inconsistency....
JPMorgan Warns Dollar Dominance Faces Risks From Political Instability, US-China Tensions
21.7.2023
JPMorgan has warned of the risks to the U.S. dollar’s dominance from escalating U.S.-China tensions and political instability. The global investment bank’s strategists anticipate “partial de-dollarization,” in which the Chinese yuan gradually assumes a more significant role...
Chinese Telecoms Firms Growing Increasingly Keen on Digital Yuan
21.7.2023
Chinese telecom operators are growing increasingly keen on digital yuan adoption, a report has claimed, as the CBDC finds new adoption strongholds.
Per EY (via Sohu), the central People’s Bank of China (PBoC) is keen to bring the nation’s biggest operators (the likes of China Telecom and China...
Latam Insights — Argentina’s Reserves Bleed, Central Bank of Brazil Would Be Able to Manipulate Digital Real in CBDC Pilot
18.7.2023
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue, the Argentine central bank sheds yuan for dollars as its reserves bleed, the Central Bank of Brazil would be able to manipulate balances and block digital...
Nobel Laureate Paul Krugman Says US Dollar Dominance Won’t Last Forever but Doubts Chinese Yuan Can Replace USD
18.7.2023
Nobel Prize-winning economist Paul Krugman says the U.S. dollar’s dominance “won’t last forever.” While recognizing the global de-dollarization trend, he expressed skepticism about the Chinese yuan’s ability to replace the U.S. dollar as the world’s dominant...
The Fall of Multichain: A Tale of Unexpected Turbulence and Security Breaches
14.7.2023
In an unforeseen chain of events that unfolded between May and July 2023, the CEO of Multichain, Zhaojun, was apprehended by Chinese authorities, destabilizing the blockchain project. The situation escalated when user assets began to be transferred to unknown addresses. From Seizure to Shutdown:...
Central Bank of Argentina Accelerates Yuan Sales and Dollar Purchases as Reserves Dwindle
14.7.2023
The Central Bank of Argentina has accelerated the sale of its Chinese yuan stash, using part of the swap line provided by the government of China while it tries to acquire dollars simultaneously. According to local sources, the country’s reserves have plunged to their lowest levels in eight...
Bitcoin gets a lift from Chinese liquidity, InQubeta presale surges & captivates investors
13.7.2023
The cryptocurrency market is no stranger to various catalysts influencing the prices of digital assets. In recent news, Bitcoin (BTC) has experienced a significant boost thanks to increased liquidity flowing from China. This influx of liquidity has sparked investors’ interest and contributed...