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KuCoin leads $10M funding for Chinese yuan stablecoin issuer
15.3.2023
Circle’s investment arm has joined a funding round for CNHC, the issuer of the eponymous stablecoin pegged to the offshore yuan
CBDCs should protect privacy, not be a surveillance tool: Former CFTC chair
14.3.2023
The former CFTC chair argues that AML and KYC measures are outdated and constitutionally questionable and said crypto technology can do better
Digital Real Pilot to Run on Ethereum-Compatible, Permissioned Blockchain
10.3.2023
According to the Central Bank of Brazil, the digital real pilot project will use an Ethereum-compatible, permissioned blockchain for the issuance of the tokenized version of the country’s currency. Hyperledger Besu, the open-source platform elected for the tests, will allow the project to...
China’s Wechat Adds Support for Digital Yuan Payments
8.3.2023
Chinese social media platform Wechat has introduced support for the state-backed digital yuan in its popular payment app. Over a billion users will now ostensibly be able to take advantage of fast payments with the digital currency issued by the People’s Bank of China. Wechat Pay Follows Alipay...
WeChat integrates digital yuan into its payment platform
7.3.2023
Chinese social media platform WeChat has incorporated the digital yuan in its payment app to boost the CBDC’s popularity
JD.com & Bank of China Join Mainland China-Hong Kong Digital Yuan Pilot
7.3.2023
Major business players are joining the Hong Kong-Mainland China “cross-border” digital yuan pilot – including the e-commerce giant JD.com and the Bank of China.
The Bank of China is one of Mainland China’s largest state-run commercial banks, while JD.com is arguably the nation’s answer...
Russian bank issues first on-chain bank guarantee in Chinese yuan
2.3.2023
The transaction was performed through the Masterchain blockchain platform, which is the Russian national blockchain network
Russian Bank Issues Bank Guarantee in Chinese Yuan Using Blockchain
2.3.2023
A bank in Russia has issued the country’s first blockchain-based bank guarantee denominated in Chinese currency. The financial institution underscored the advantages of using a digital form of the document and pointed out that demand for yuan payments is growing. MKB Employs Bank of Russia’s...
Hong Kong citizens not interested in digital yuan: Reports
2.3.2023
Despite the 20% discount, the e-CNY hard wallets don’t attract much attention from the islanders
China's Digital Yuan Fails to Gain Traction with Hong Kong Visitors – Is China's Digital Currency Facing a Roadblock?
2.3.2023
Shenzhen, China started offering physical cards and discounts to Hong Kong tourists in order to drive the cross-border use of its digital yuan - but the first few days seem to have been a bit slow.
Per the state-backed Shenzhen News, the country's first digital yuan hard wallet self-service card...
US lagging on CBDCs could spell ‘trouble’ — Crypto Council policy head
1.3.2023
Fanusie doesn’t believe the Chinese-led CBDC movement on the global stage will replace the U.S. dollar, but it may cause a series of geopolitical headaches
China’s Digital Yuan Can Now Be Used to Pay Highway Toll Fees on Major Routes
27.2.2023
China’s digital yuan adoption drive is now focusing on transport networks. And drivers have been green-lighted to use the token to pay tolls on some of the nation’s busiest highways.
Per Shenzhen Securities Times and Sina Finance, Jiangsu Province’s Department of Transport has announced that toll...
China Begins Hong Kong ‘Cross-Border’ Digital Yuan Pilot
17.2.2023
Shenzhen, China, has begun a retail-focused “cross-border” digital yuan pilot with Hong Kong.
China Banking and Insurance News (via JRJ) reported that the event is the brainchild of the central People’s Bank of China (PBoC) and the Luohu District local government. Luohu is located close to Hong...
China’s 180M digital yuan airdrop, Devastation in Turkey, Laos’ CBDC: Asia Express
9.2.2023
Our weekly roundup of news from East Asia curates the industry’s most important developments. China airdrops 180 million digital yuan to celebrate Lunar New Year According to state-owned media Global Times, Chinese cities airdropped a total of 180 million digital yuan (e-CNY) worth $26.6 million...
Electricity- and Network-free Digital Yuan Payments Taking off in China – Report
8.2.2023
Electricity-free digital yuan payment adoption is reportedly on the rise in China – where smartphone users can spend their coins without a network connection.
Earlier this year, the central People’s Bank of China (PBoC)’s updated the official digital yuan app. The update allows users to...
China doles out millions in digital yuan in bid to boost adoption: Report
6.2.2023
Multiple Chinese city governments have given away millions worth of e-CNY to try to promote consumption around the holiday season
Chinese City of Suzhou Aims to Transact $297bn Worth of Digital Yuan in 2023
3.2.2023
The city of Suzhou, in China, hopes its residents and local firms will transact a cumulative total of around $297 billion worth of the central bank’s digital yuan token this year.
Per Shanghai Securities News, the city – one of the most populous and wealthiest in China – has unveiled a new plan...
Chinese Economist Urges Government to Reconsider Crypto Ban — Warns of Missed Tech Opportunities
2.2.2023
An economics professor and former adviser to the People’s Bank of China has urged the Chinese government to reconsider its ban on cryptocurrencies. He warned that banning crypto activities could result in missed opportunities that are “very valuable” to regulated financial...
Changsha, China: 300,000 of Our Merchants Accept Digital Yuan
1.2.2023
Over 300,000 stores and vendors in Changsha, China, now accept digital yuan payment – as the central bank digital currency continues to break new ground in the country....
Read More: Changsha, China: 300,000 of Our Merchants Accept Digital Yuan
China's Hainan to boost NFT oversight as digital yuan trial ramps
31.1.2023
Hainan's market regulator wants to promote NFTs as part of the digital economy, but will actively work to weed out bad actors and speculative behavior