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Nalezeno "yuan": 855

JPMorgan Expects Dollar Dominance to Persist Even if China Overtakes US as World’s Largest Economy

19.6.2023
JPMorgan’s strategists have explained that even if China overtakes the U.S. as the world’s largest economy around 2030, the U.S. dollar may remain the world’s dominant currency for the rest of the 21st century. The global investment bank cited the historical experience of when...

Chinese Banks Roll Out More Digital Yuan Wealth Management Options

16.6.2023
Chinese banks will let their customers pay for more wealth management products using the digital yuan, as the nation’s central bank digital currency (CBDC) continues to branch out. Per the Chinese media outlet Financial Report Network (via Stockstar), the state-owned China Construction Bank (CCB)...

Economist Discusses Viability of BRICS Currency — Says Pegging to Chinese Yuan Would Be ‘First Major Step’

15.6.2023
An economist, who previously worked at the Bank for International Settlements (BIS), has provided insights on the possibility of a BRICS currency coexisting with the U.S. dollar. Noting that China is a major trading partner of all BRICS nations, he suggested: “Pegging to the renminbi...

China to Showcase Digital Yuan at Summer World University Games

15.6.2023
Student athletes from around the world will get the chance to use China’s digital yuan in July, with the CBDC put to use at the Summer World University Games in Chengdu. Per the Chinese media outlet The Cover, the games will become the first “major international sports event” to “officially...

Chinese Police Warn of a Rise in Digital Yuan-themed Scams

13.6.2023
Chinese police have warned there has been an increase in digital yuan-themed scams, as the nation’s CBDC rollout gathers pace. Per the state-run news outlet CCTV (via Xinhua), officers in Shandong Province claimed they had seen a rise in digital yuan-themed “fraud.” They said one recent scam...

China Hopes Hard Wallets Will Spur Digital Yuan Adoption – CBDC Focuses on ‘Elderly & Children’

13.6.2023
A Chinese city says it is rolling out offline digital yuan “hard wallets,” with the nation targeting CBDC uptake among “elderly citizens and children.” Per Changsha Evening News, the city of Changsha, Hunan Province, has announced it will debut “elderly and children-friendly” digital yuan hard...

Latam Insights — Volcano Energy Bitcoin Mining Project Rises in El Salvador, Venezuelan Miners Leaving Amidst Crypto Corruption Probe

12.6.2023
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue, Volcano Energy rises in El Salvador, Venezuelan bitcoin miners flee amidst nationwide mining ban, and Argentina deepens usage of the Chinese yuan to...

Russian Banker Predicts End of Dollar Dominance as Global Power Shifts

11.6.2023
Russia’s second-largest bank’s chairman has predicted the end of U.S. dollar dominance. He believes that the Chinese yuan will replace the U.S. dollar as the dominant currency. “I think that the time has come when China will gradually remove currency restrictions,” he noted, adding that...

Chinese Charities Accepting Digital Yuan Donations – More CBDC Firsts to Come?

10.6.2023
Chinese charities are now accepting digital yuan donations, with the nation’s CBDC also breaking new ground in the world of corporate loans. Per the media outlet WXRB, the coastal province of Jiangsu has welcomed its first “online corporate and personal digital yuan donations platform.” At...

De-dollarization: Is it really happening?

9.6.2023
In our latest Cointelegraph Report, we analyze the causes leading to the decline of the U.S. dollar as the world reserve currency and its potential implications

Chinese State-Owned Banks Cut Dollar Deposit Rates — Dismiss Government Influence Claims

9.6.2023
Major Chinese state-owned banks have lowered interest rates on U.S. dollar deposits. However, they reportedly dismissed claims that the moves were influenced by the Chinese government, stating that the rate cuts were market-driven. Chinese Banks Reduce Dollar Deposit Rates Major Chinese state-owned...

‘De-Dollarization Emerging’ but Greenback Will Retain Its Dominance — JP Morgan Strategists

8.6.2023
Two JP Morgan strategists have said the U.S. dollar will retain its dominant position even as it is being challenged by alternative currencies such as the Chinese yuan. According to a report, the yuan currently accounts for just 7% of global foreign exchange trade volumes while the greenback...

Russian Finance Minister Talks Dollar Attack on Russia, Importance of Developing Alternatives for Settlements

7.6.2023
Russian Finance Minister Anton Siluanov has given his opinion on the perceived attack the Russian economy has been receiving from the U.S. dollar, and how the country has moved to keep trade going. Siluanov also remarked on the importance of developing settlements in national currencies. Russian...

Chinese Yuan, Euro, Digital Currencies Challenge US Dollar Dominance, TD Economist Says

7.6.2023
A senior economist at financial services firm TD says the Chinese yuan, the euro, and digital currencies could erode the U.S. dollar’s dominance. “Several countries have shown frustration with the dominance of the dollar and are pursuing alternatives for conducting international trade...

CZ Binance on Buying Banks to Fight Crypto Regulation Woes, Russian Banker Says CNY Likely to Dethrone USD, and More — Week in Review

4.6.2023
Changpeng Zhao, the CEO of Binance, doesn’t think buying a bank would solve the crypto industry’s troubles with traditional financial institutions, amid issues his own exchange currently faces in regions like Australia and Europe. In other news, the chairman of Russia’s...

US Dollar Will Lose Dominant Status, China and India Could Play Key Role in Currency Shift, Says Economist Lord O’Neill

3.6.2023
Lord Jim O’Neill, the British economist credited with coining the acronym BRIC, has explained that the U.S. dollar will lose its dominant status. He expects the Chinese yuan and possibly the Indian rupee to become “much more important currencies for the world.” Lord Jim O’Neill on...

More China CBDC Public Transport Options Unveiled – Digital Yuan Readies Asian Games Debut

3.6.2023
Digital yuan payment adoption is stepping up in China ahead of the Asian Games, with venue cities rolling out a range of central bank digital currency (CBDC) transport options. Per Shanghai Securities News, preparations are in advanced stages in the host city of Hangzhou, Zhejiang Province. The...