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Chinese IT Giant Tencent Launches Digital Yuan Smart Contract Services


The Chinese tech titan Tencent, the WeChat operator, will launch a digital yuan smart contract offering for small and medium-sized enterprises (SMEs). The move comes weeks after the firm announced it would join a central bank-led e-CNY and global CBDC interoperability pilot. Per the Securities...

China’s Shenzhen Launches Digital Yuan Industrial Park


A group of Chinese firms will move into a CBDC-themed “digital yuan industrial park.” Per the Shanghai Securities News and the Securities Times, the Southeastern city of Shenzhen held an “official launching ceremony” for its “first digital yuan industrial park” on the morning of October 11. The...

Rise in Chinese Banks Issuing Digital Yuan Corporate Loans


More Chinese banks are issuing loans in the digital yuan, the nation’s central bank digital currency (CBDC), as e-CNY corporate financing options diversify. Per Nanhai Net (via Hainan News), the latest development has taken place on the island province of Hainan, in the city of Sanya.... Read...

China Says Overseas Visitors Are Using e-CNY, Paying More Salaries with CBDC


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...

Digital Yuan Giveaways Driving Adoption, Chinese Central Bank Claims


The Chinese central bank has claimed that its program of digital yuan giveaways is helping to drive up CBDC adoption. According to the state-run newspaper the People’s Daily, the Digital Currency Research Institute, the central People’s Bank of China (PBoC)’s dedicated digital yuan arm,...

China Connects Digital Yuan to Hong Kong’s Fast Payment System


China has taken another step forward in its digital yuan pilot – connecting its CBDC platform to Hong Kong’s Fast Payment System (FPS). The move will speed up cross-border digital yuan transactions and boost interoperability between the Mainland’s CBDC and international payment networks. The...

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