Search
China's Digital Yuan Isn't Taking Off Despite State Employee Salary Trial: Report
13.5.2024
Most of the early recipients immediately transfer the digital yuan balances to their bank accounts to spend as cash
Despite $250 Billion Worth of Transactions, Digital Yuan Users Prefer Physical Cash
13.5.2024
Some participants of China’s Central Bank Digital Currency (CBDC) pilot program, specifically state workers paid in digital yuan (e-CNY), are quickly converting their digital currency to physical cash due to concerns over its utility and lack of incentives like interest on savings. Despite...
Chinese workers paid in CBDC are cashing it out for real money: Report
13.5.2024
Some participants of China’s CBDC pilot program are reportedly hesitant to hold onto the digital yuan, citing a range of concerns with using the state-backed digital currency
Top Chinese Law Firm Analyzes Digital Yuan AML Challenges
29.4.2024
JunHe Law Firm Partner Chen Xin issues report to explore anti-money laundering challenges, opportunities and solutions in China's CBDC digital yuan deployment and regulation.
The post Top Chinese Law Firm Analyzes Digital Yuan AML Challenges appeared first on Cryptonews
Ex-Head of China's Digital Yuan Effort Facing Government Probe: Report
26.4.2024
Yao Qian is reportedly being investigated for "violations of discipline and law."
China Opens e-CNY Research Institute, Appoints First Expert Panel
19.4.2024
With its official launch, the e-CNY Research Institute sets out to foster industry integration and innovation, supported by a newly appointed panel of specialists from finance and technology sectors.
The post China Opens e-CNY Research Institute, Appoints First Expert Panel appeared first...
China Expands Digital Yuan Accessibility Through Hardware Wallet Integration
1.4.2024
Bank of China’s Qingdao Branch, in collaboration with telecom and digital finance partners, introduces digital yuan hardware wallet and "deferred payment" model to simplify transit payments.
The post China Expands Digital Yuan Accessibility Through Hardware Wallet Integration appeared first...
China’s Central Bank Publishes Digital Yuan Guide for Foreign Visitors
18.3.2024
The People’s Bank of China publishes a digital yuan service guide for foreign visitors, detailing steps to download apps, open wallets, link accounts, and complete payments.
The post China’s Central Bank Publishes Digital Yuan Guide for Foreign Visitors appeared first on Cryptonews
China’s Shandong Province Introduces Digital Yuan Loan for Entrepreneurs
11.3.2024
Shandong Province offers entrepreneurs digital yuan loans, indicating China's push for digital economy amidst discussions on legal frameworks at the ongoing national legislative conference.
The post China’s Shandong Province Introduces Digital Yuan Loan for Entrepreneurs appeared first...
Hong Kong to Kickstart New Web3 and Digital Yuan Initiatives This Year
5.3.2024
The city of Hong Kong has detailed the advancement of new Web3 and digital yuan initiatives as part of its 2024-2025 budget. In a speech, Hong Kong Financial Secretary Paul Chan stated that the city would expedite a Web3 sandbox for stablecoins and expand the digital yuan pilot as part of...
Citizens Open Over 29.16 Million Digital Yuan Wallets in Suzhou, China
27.2.2024
Suzhou, China, has reported that more than 29.16 million residents now have digital yuan wallets as the nation’s CBDC project continues to gather pace.
The post Citizens Open Over 29.16 Million Digital Yuan Wallets in Suzhou, China appeared first on Cryptonews
Chinese Authority Warns of Fake Digital Yuan App Scam
26.2.2024
Chinese Ministry of Industry and Information Technology cautions against counterfeit digital yuan apps as scam tactics evolve, urging the public to verify through official channels.
The post Chinese Authority Warns of Fake Digital Yuan App Scam appeared first on Cryptonews
Digital Yuan Now Used to Complete Car Prepurchase Payments
23.2.2024
The digital yuan, China’s central bank digital currency (CBDC), is being used as a security element in car prepurchase payment settlements. According to local media reports, a pilot test that allows customers to pay for their cars with digital yuan was established in early February...
Car Buyers in China Now Can Pre-Pay with Digital Yuan Smart Contracts
20.2.2024
China’s Shenzhen has introduced a new era of automotive purchasing with digital yuan smart contracts, offering enhanced pre-payment security for car buyers in collaboration with Agricultural Bank of China.
The post Car Buyers in China Now Can Pre-Pay with Digital Yuan Smart Contracts appeared first...
Hong Kong General Chamber of Commerce Asks Government to Allow Yuan-Linked Stablecoins
7.2.2024
The Hong Kong General Chamber of Commerce (HKGCC) has asked policymakers to consider allowing the issuance of Chinese yuan-linked stablecoins. In a statement released on Tuesday, the influential business organization emphasized the importance of retaining and attracting talent and businesses...
Project Mbridge Reaches Milestone: First Digital Dirham Cross-Border Settlement Goes Through
3.2.2024
The first cross-border digital dirham payment was completed by Sheikh Mansour Bin Zayed Al Nahyan, Chairman of the Board of the Central Bank of the UAE, using the Mbridge platform, a central bank digital currency (CBDC) liquidity and interconnection tool. The settlement involved sending 50 million...
UAE and China Complete First $13.6M Cross-Border CBDC Transaction
2.2.2024
The United Arab Emirates and China have executed their first cross-border central bank digital currency (CBDC) transaction valued at $13.6 million using digital dirham and digital yuan. According to People.cn, the 50-million-dirham ($13.6 million) transaction occurred via the m-CBDC Bridge platform...
Bank of Japan Holds First CBDC Meeting with Key Finance Officials
29.1.2024
Japan’s central bank and the Finance Ministry reportedly had their first meeting to discuss a potential central bank digital currency (CBDC) on Friday. Local outlet NHK News reported that executives from relevant ministries and central bank directors discussed issues regarding a CBDC. The Ministry...
Chinese Company Issues First $350 Million Tech Innovation Bond Raised in Digital Yuan
29.1.2024
A Chinese infrastructure company has successfully raised $350 million in digital yuan for its new technology innovation bond. According to Shanghai Securities News, the Shandong Hi-Speed Group issued the “Shandong Hi-Speed Group Co., Ltd. 2024 Public Offering to Institutional Investors...
Chinese Central Bank to Expand Digital Yuan Pilot in Hong Kong
26.1.2024
The central People’s Bank of China says it plans to expand its “cross-border” digital yuan pilot in Hong Kong. Per a Weibo post from the media outlet Caixin, and a report from The Paper, the Deputy Governor of the PBoC Xuan Changneng said the bank wants to “deepen the cross-border e-CNY pilot”...