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China’s regulators have asked Tencent Holdings to lower the mobile payment market share of WeChat just a few weeks after Beijing started the digital yuan pilot in Hong Kong. Tencent Holdings is reportedly under pressure from Chinese regulators as Beijing…
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China’s central bank digital currency is now available in Hong Kong, as Beijing is pushing hard to digitize its economy. China has started its first pilot outside the mainland, with digital yuan now available in Hong Kong‘s local shops, according…
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While Beijing is trying to popularize its digital yuan, only a few seem to be ready to use it. As Chinese government employees, especially those in state-owned enterprises and governmental organizations, become early adopters of receiving their salaries in digital…
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China’s major lender has concluded the cross-border settlement for precious metals trading with digital yuan. The Bank of China is set to expand the application of the country’s digital currency as the Beijing-based commercial bank has completed the first cross-border…
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Multinational banking giant Standard Chartered has begun offering exchange services for the digital yuan, helping to integrate China's CBDC into the global financial system.
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Senator Rick Scott introduced a prohibition act seeking to bar U.S. financial service operators from interacting with China’s central bank digital currency (CBDC).
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A Chinese foreign exchange regulator official showed its support for the CBDC development, the digital yuan. Lu Lei, deputy administrator of the State Administration of Foreign Exchange (SAFE), explained to the CNA agency that some of the main features of…
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WeChat operator, Tencent, announced the launch of a new digital yuan smart contract enterprise credit solution platform. The new platform aims to bring a more convenient and efficient financing service for small and medium-sized enterprises. The project will use the…
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China has launched its first industrial park dedicated to developing and applying the digital yuan, or e-CNY, in the city of Nanjing, Jiangsu province.
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Changchun Mu, an executive from the People’s Bank of China (PBOC), stated that the digital yuan needs to be available in retail scenarios. According to the local source Paper, Mu explained at a trade forum in Beijing that the central…
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China's central bank governor Yi Gang has announced transactions worth almost $250 billion have occurred with the country's digital yuan since the start of its pilot 18 months ago.
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China’s Shanghai has released guidelines for integrating and promoting innovative technologies like blockchain, the metaverse, and digital yuan. The Chinese government has outlawed bitcoin (BTC) and other digital assets. Still, it recognizes the potential of blockchain technology. Currently, the country…
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Shanghai Clearing House, a financial institution under China’s central bank, has introduced digital yuan clearing and settlement services for commodity trading, enhancing cross-border transactions and promoting the internationalization of China’s currency. China expanding digital yuan adoption The Shanghai Clearing House…
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Governor Ron DeSantis of Florida has voiced his backing for a proposed bill that seeks to prohibit the use of CBDCs as a form of currency within the state
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Changshu City in Jiangsu Province, East China, will begin paying all public sector personnel in e-CNY, better known as digital yuan, from May 2023
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According to reports in the media on Sunday, several cities in China launched digital yuan activities to promote usage during the Spring Festival holidays.
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