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China’s Dalian Commodity Exchange has successfully used the digital yuan for fees settlement in the nation’s futures market, making it the first real application of the People’s Bank of China (PBoC) issued digital currency in the finance sector, according to a…
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China continues to scale up efforts to test its upcoming digital yuan, as six state-owned commercial banks have added the responsibility of promoting the Chinese central bank digital currency (CBDC) wallet on employee assessment. Employees to Get Users for Digital…
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The Industrial and Commercial Bank of China (ICBC), has now made it possible for Chinese residents to easily exchange their DCEP, the nation’s digital renminbi for fiat yuan and vice versa, at thousands of automated teller machine (ATM) locations in…
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Beijing will give out 200,000 red envelopes worth 200 yuan to lucky applicants in a lottery to be launched in June. Fintech expert Su Xiaorui said that the giveaway is a trial to ensure the pilot work for digital renminbi…
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The People’s Bank of China (PBOC) is inching closer to becoming the first major central bank to launch a sovereign digital currency. The bank has rolled out several ambitious pilot programs in recent months in a bid to test how…
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The Chinese government is conducting fresh digital yuan tests in six new provinces including Shanghai, Hainan, Changsha, Xi’an, Qingdao, and Dalian. The government has increased the scope of this latest DCEP trial from the previous 50,000 to 500,000 users. The…
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The Biden administration is keeping a close eye on China’s digital yuan ambitions. Digital Yuan Could Destroy Dollar Hegemony According to a Bloomberg report published on April 12, the Biden administration is stepping up scrutiny of China’s ambitious digital yuan…
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As part of China’s plans to expand its digital currency testing, online banking platform MYbank, backed by Alibaba’s affiliate fintech giant Ant Group, has reportedly joined the digital yuan pilot program. China Reportedly Tapping Private Sector for Digital Yuan Test…
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Andrew Yang–a crypto advocate and the Democratic Party candidate for New York City Mayor, leads polls and is likely to replace the incumbent, Bill de Blasio, Politico reports on Feb 11. Former Presidential candidate, Yang, is Popular in New York…
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Following the continuous testing and promotion of China’s central bank digital currency (CBDC), the city of Xiongan has introduced the first hardware wallet for the digital yuan. Major Bank ABC Creates Digital Yuan Hardware Wallet The Xiongan Authorities made the…
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The Chinese city of Shenzhen is preparing for its third test for China’s central bank digital currency (CBDC) project known as digital currency electronic payment (DC/EP), as it plans to distribute $3 million in digital yuan in a red packet…
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The government of Shenzhen, China, has announced via a WeChat post that its digital yuan test exercise, which went live on January 7, this year, has recorded massive success, as residents have used the central bank digital currency in nearly…
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Popular Chinese city Shenzhen’s government had announced on New Year’s Eve that their plan to distribute $3 million worth of digital yuan to local residents, in China’s third Central Bank Digital Currency (CBDC) tests. The catch is that residents will…
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The Suzhou government is set to carry out a test on China’s central bank digital currency (CBDC) by conducting a digital yuan airdrop via a lottery program, which will see the distribution of $3 million worth of digital yuan to…
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Macau’s gambling industry already affected by the coronavirus could be in for another significant external stress in the form of China’s central bank digital currency (CBDC). The emergence of traceable digital yuan enforced by Beijing on the enclave may likely…
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China’s central bank digital currency (CBDC) testing train is scheduled to make its next stop in the city of Suzhou as authorities accelerate plans to issue the digital yuan. While several countries are actively involved in developing their sovereign digital…
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