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Chinese Energy Giant PetroChina Sets New Precedent with e-CNY Crude Oil Deal
25.10.2023
In a historical first, PetroChina – a Chinese-state-owned oil and gas company – has officially completed its first international crude oil trade using the digital yuan (e-CNY).
The Shanghai Petroleum and Natural Gas Exchange (SHPGX) announced the transaction on Friday, confirming that PetroChina...
PetroChina Completes First International Crude Oil Trade in Digital Yuan: Report
23.10.2023
PetroChina bought 1 million barrels of crude oil settled in e-CNY at the Shanghai Petroleum and Natural Gas Exchange
China Opens Digital Yuan Park in Shenzhen
14.10.2023
Shenzhen has become home to an industrial park established to promote China’s central bank digital currency (CBDC). Several financial companies are already settling there, the Chinese megacity announced while unveiling almost a dozen initiatives to boost the digital yuan use in the region. Shenzhen...
China Says Overseas Visitors Are Using e-CNY, Paying More Salaries with CBDC
10.10.2023
Chinese officials say uptake for the digital yuan is rising among overseas visitors – while more citizens are receiving their salaries in CBDC wallets.
Per the Hangzhou Daily, state-run banks in the Hangzhou Asian Games Village “welcomed delegations [athletes and coaches]” from across Asia...
China dev fined 3 yr’s salary for VPN use, 10M e-CNY airdrop: Asia Express
29.9.2023
Crypto industry concerns after Chinese dev fined 3 year’s salary for using a VPN, largest Ponzi in Hong Kong history, JPEX saga, and more
China Allows Visitors to Top Up Digital Yuan Wallets with Visa, Mastercard, Cash
28.9.2023
Trying to make the digital yuan more attractive for foreigners, China has added a “recharge before use” feature to its digital currency system. The upgrade will allow visitors from abroad to replenish a digital yuan wallet through the global payment networks Visa and Mastercard among other methods....
Digital Yuan app adds prepaid Mastercard VISA top-ups for tourists
25.9.2023
The Digital Yuan app now allows tourists to top-up e-CNY wallets with Mastercard & VISA payment with 'recharge first and use later' option
China’s digital yuan nears $250B transaction volume: Central bank governor
20.7.2023
While the adoption and use cases of China’s e-CNY are expanding, the digital yuan still only represents 0.16% of China’s monetary supply
Bank of China Expands Digital Yuan Testing to SIM Cards and NFC Payments
13.7.2023
The state-owned financial institution Bank of China has revealed a partnership with China Unicom and China Telecom in order to test SIM cards and near-field communication (NFC) payments tethered to the renminbi. The Bank of China explains that the pilot will be tested by selected users and areas...
China could benefit from yuan stablecoin over its CBDC - Circle CEO
11.7.2023
China may have banned the use of cryptocurrencies but stablecoins might have a role to play in the proliferation of its national currency
Singapore Bank DBS Starts e-CNY Collection Platform
5.7.2023
The newly launched merchant collection solution allows businesses automated settlement of e-CNY into their CNY bank deposit accounts
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...
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 Communist Party officials issue KPIs for e-CNY transactions in Suzhou
2.2.2023
CCP officials want to see the e-CNY surpass $300 billion in transactions in 2023 through promotional efforts
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...
China’s digital yuan gets smart contract functionality alongside new use cases
20.1.2023
China's central bank digital currency (CBDC) has seen new use cases in recent days, including buying securities and making offline payments
Former Chinese central banker says digital yuan ‘usage has been low’
30.12.2022
A former China central banker said cumulative e-CNY transactions only crossed $14 billion in two years, adding the results were “not ideal.”
China’s CBDC wallet resorts to ages-old tradition to boost adoption
28.12.2022
A traditional Chinese way of gifting money that’s gone virtual with the rise of digital payments has been introduced into the digital yuan wallet app
Report: Chinese Company Launches Digital Currency Insurance Product
13.12.2022
The Suzhou branch of the Chinese insurance company China Pacific Insurance, together with the Bank of Communications, recently announced the launch of a digital currency account insurance product. The launch comes at a time when the number of personal digital currency wallets created in the Chinese...
S Korea Claims Cross-border CBDC Success, Chinese Bank Chief Says e-CNY Will Boost Trade
7.11.2022
East Asia could become the central bank digital currency world’s center of gravity – with major cross-border functionality advances on the cards in China and South Korea.
In South Korea, the central Bank of Korea (BOK) has claimed that its “second phase” of pilots has now been “successfully...