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Solana
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Digital Yuan News

Latest Digital Yuan News

Beijing asks WeChat to lower its mobile payment share amid digital yuan pilot
News
Read more - Beijing asks WeChat to lower its mobile payment share amid digital yuan pilot

Beijing asks WeChat to lower its mobile payment share amid digital yuan pilot

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…
Hong Kong debuts China’s digital yuan pilot, prohibits peer-to-peer transfers
News
Read more - Hong Kong debuts China’s digital yuan pilot, prohibits peer-to-peer transfers

Hong Kong debuts China’s digital yuan pilot, prohibits peer-to-peer transfers

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…
Digital yuan being dumped in favor of cash
News
Read more - Digital yuan being dumped in favor of cash

Digital yuan being dumped in favor of cash

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…
China accelerates CBDC pilot with cross-border precious metals transaction
News
Read more - China accelerates CBDC pilot with cross-border precious metals transaction

China accelerates CBDC pilot with cross-border precious metals transaction

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…
Standard Chartered China provides digital yuan exchange services
News
Read more - Standard Chartered China provides digital yuan exchange services

Standard Chartered China provides digital yuan exchange services

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.
U.S. policymakers introduce bill targeting China’s digital yuan
News
Read more - U.S. policymakers introduce bill targeting China’s digital yuan

U.S. policymakers introduce bill targeting China’s digital yuan

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).
China FX regulator supports CBDC amid monetary policy
News
Read more - China FX regulator supports CBDC amid monetary policy

China FX regulator supports CBDC amid monetary policy

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…
Tencent launches credit solution for digital yuan
News
Read more - Tencent launches credit solution for digital yuan

Tencent launches credit solution for digital yuan

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…
China launches first digital currency industrial park
News
Read more - China launches first digital currency industrial park

China launches first digital currency industrial park

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.
Chinese central bank exec aims for digital yuan retail expansion
News
Read more - Chinese central bank exec aims for digital yuan retail expansion

Chinese central bank exec aims for digital yuan retail expansion

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…
China’s digital yuan hits $250 billion in transactions
News
Read more - China’s digital yuan hits $250 billion in transactions

China’s digital yuan hits $250 billion in transactions

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.
Shanghai to integrate blockchain as Hong Kong becomes crypto hub 
News
Read more - Shanghai to integrate blockchain as Hong Kong becomes crypto hub 

Shanghai to integrate blockchain as Hong Kong becomes crypto hub 

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…
Shanghai Clearing House adds support for digital yuan in commodity trading
News
Read more - Shanghai Clearing House adds support for digital yuan in commodity trading

Shanghai Clearing House adds support for digital yuan in commodity trading

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…
Florida governor supports state bill banning CBDCs
News
Read more - Florida governor supports state bill banning CBDCs

Florida governor supports state bill banning CBDCs

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
Chinese City to pay civil servants using digital yuan
News
Read more - Chinese City to pay civil servants using digital yuan

Chinese City to pay civil servants using digital yuan

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
China launches digital yuan promotion across nation
News
Read more - China launches digital yuan promotion across nation

China launches digital yuan promotion across nation

According to reports in the media on Sunday, several cities in China launched digital yuan activities to promote usage during the Spring Festival holidays.