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Russia’s Yuan Shift: EBRD Economist Warns of Waning US Dollar Dominance


In a recent interview, the European Bank for Reconstruction and Development’s (EBRD) chief economist, Beata Javorcik, highlighted a notable trend: Russia’s growing inclination to transact in the Chinese yuan. This shift, the economist emphasized, could challenge the dominance of...

Chinese Tech Giant Tencent Joins CBDC Interoperability Pilot


China’s Tencent, the operator of the WeChat and WeChat Pay platforms, will join central bank-led digital yuan and CBDC interoperability pilots. WeChatPay, along with its rival Alipay, has cornered some 15% of the Chinese payments market. But in recent years, Tencent has moved to align with...

Foreign Travelers Can Now Use China’s Digital Yuan App


Visitors to China can now buy digital yuan tokens with overseas cards via the central bank’s official CBDC mobile app. Per the China Business News, via Yicai, the bank has updated its app to allow visitors to China “to download the digital yuan app from app marketplaces.” The platform has been...

Chinese Banks, Firms Make Digital Yuan Smart Contract Progress


Chinese banks and businesses want to step up their use of digital yuan-powered smart contracts, as the financial and industrial sectors eye CBDC progress. Per the Securities Times (via Stockstar), the state-run Postal Savings Bank of China has “officially” co-launched the nation’s first...

Chinese “Super SIM” Cards to Feature New Digital Yuan Functions


New Chinese “Super SIM” cards will function as digital yuan wallets, smartcards, and ID cards as the nation’s CBDC pilot continues. Chinese mobile operators such as China Mobile have been working on so-called “Super SIM” offerings since 2016. They have added a range of functionality to the cards...

Almost 490,000 Vendors in China’s Changsha Accept Digital Yuan Payments


Nearly 490,000 vendors in China’s Changsha now accept digital yuan payments, the city’s government has claimed as the nation’s CBDC pilot continues. Per the Changsha Evening News (via Huasheng Online), this year has seen Changsha expand its digital yuan use-case scenarios “into key areas such...

Shenzhen, China, Prepares Fresh CBDC Giveaway


Shenzhen, China, is readying a new digital yuan giveaway as the city looks to showcase the CBDC at a range of upcoming sporting events. Per Shanghai Securities News, the city is set to hand out e-CNY tokens to some 50,000 citizens as part of its latest adoption drive. The coins will...

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