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…

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Standard Chartered to offer support for China’s digital yuan

Standard Chartered Bank has announced its upcoming participation in China’s digital yuan, also known as digital renminbi (RMB), with the pilot project set to commence on Nov. 27. The bank said it will provide customers with digital yuan exchange, redemption, and other services.

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Chinese Players to Showcase Digital Yuan Solutions at 2023 Beijing Service Trade Fair

Local news outlet underlines that JD's partnership with ICBC will release a digital yuan programmable supply chain solution. It will be based on digital renminbi smart contracts. The post Chinese Players to Showcase Digital Yuan Solutions at 2023 Beijing Service Trade Fair appeared first on BeInCrypto.

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Jinan pioneers Chinese CBDC use in transportation with digital yuan bus payments

Jinan, the capital of Shandong Province in eastern China, has taken a proactive stance in promoting the use of China's central bank digital currency (CBDC) by initiating digital yuan payments on all of its bus routes.

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BNP Paribas teams up with Bank of China to promote digital yuan usage

The partnership will enable BNP Paribas China’s corporate clients to make payments using the digital yuan through an e-CNY management system.

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Public Sector Leads Transition to Digital Yuan Wage Payments

In a bid to drive CBDC adoption, the Chinese government is pushing to pay more state employees in digital yuan. The post Public Sector Leads Transition to Digital Yuan Wage Payments appeared first on BeInCrypto.

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Chinese central bank exec says digital yuan will offer ‘controllable anonymity’

China’s digital yuan is one of the earliest CBDCs whose pilot phase has expanded to include millions of users and billions in transaction volume.

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US Lawmakers Are Making Moves To Ban China’s Digital Yuan From App Stores In The Country With New Bill

A trio of Republican lawmakers are making a move to limit the use of the digital yuan in American cyberspace. The lawmakers argue that the digital yuan could be used to spy on American citizens. While the US has stalled in its CBDC development, China has made significant strides with its digital yuan. China’s digital […]

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WeChat adds support for Digital Yuan payments

The leading social media messaging app in China has reportedly enabled digital Yuan (s-CNY)…

The post WeChat adds support for Digital Yuan payments appeared first on Coin Journal.

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US lawmakers issue warnings about digital yuan as Winter Olympics kicks off

"Do not accept any digital yuan," said Minnesota Representative Tom Emmer in a tweet aimed at Team USA athletes competing in China.

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Govt alarms of telecom fraud using the digital yuan in China

The Chinese Xiongan New District alarmed of telecom fraud using the digital yuan, a digital currency the Chinese Central Bank started issuing recently, CoinDesk reports. The local government and branch of the People’s Bank of China signed a notice on Thursday, Nov.

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China Reveals Digital Yuan White Paper: Smart Contracts, $5.4B Settled, Large Transfers Traced

The working group involved with the research and development of the digital yuan for the People’s Bank of China (PBOC) has published a paper describing the digital currency’s progress. The PBOC initiated a task force dedicated to the creation of a digital yuan in 2014, and the recently published document is the project’s first white […]

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China Showcases e-CNY “Hardware Wallets”

Various forms of digital yuan hardware wallets have been showcased at the 2021 World Artificial Intelligence Conference Innovative Application Exhibition by three digital yuan participating banks, the Industrial and Commercial...

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China Has Dispersed Over $40 Million of Digital Yuan in Red Envelopes, Report Reveals

China, which has arguably the most advanced digital currency project among leading nations, has so far handed out more than $40 million in red envelopes with digital yuan. The promotional campaign for the CBDC is currently focused on five major cities, taking into account their regional development priorities.

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China: State-Owned Banks to Task Employees With the Promotion of Digital Yuan Wallet

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.

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Beijing and Suzhou Railways Now Accept Digital Yuan Payments for Ride Fares

Beijing subway has officially launched a new program that allows passengers to pay for rides with the central bank digital currency (CBDC) also known as the digital yuan. The news follows the subway system in East China’s Jiangsu province in the city of Suzhou which also allows digital yuan payments for subway fares. Digital Yuan […]

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After Chasing Off Bitcoin Miners, China Launches New Test For Digital Yuan

China’s Digital Currency Electronic Payment (DCEP), also called Digital Yuan or e-CNY, will be tested on Beijing’s Subway. The Asian Giant has launched a fresh crackdown on the crypto industry and seems to be preparing for a big move on their DCEP project.

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Digital Yuan to Be Stored in Physical and Digital Wallets, Official Says

The People’s Bank of China (PBoC) announced today that the digital yuan wallet will be inclusive for all to use. The post Digital Yuan to Be Stored in Physical and Digital Wallets, Official Says appeared first on BeInCrypto.

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China Begins $6 Million Digital Yuan Airdrop Trial

China has been developing its central bank digital currency (CBDC), the Digital Yuan, for over seven years. The project has come to a critical test phase and it’s ready to be used by the citizens.

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China Handing Out $6.2 Million of Digital Yuan in Beijing

Continuing on with its central bank digital currency trials, China is handing out $6.2 million worth of its digital yuan to Beijing residents. The post China Handing Out $6.2 Million of Digital Yuan in Beijing appeared first on BeInCrypto.

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Hong Kong to expand pilots for cross-border use of digital yuan

The first phase of tests for use of the digital yuan across borders has been successful, the Hong Kong Monetary Authority has said.

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Here’s Why The Digital Yuan Is The Opposite Of Bitcoin

The Digital Yuan is imminent. The time for Central Bank Digital Currencies is near us. Sooner than later, CBDCs will be the norm. And the Digital Yuan will break ground. Here’s what this means for Bitcoin and why the two assets are directly opposed.

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China Could Test Digital Yuan With Foreigners at 2022 Winter Olympics

A top executive of the People’s Bank of China (PBOC) revealed that it was planning to test its proposed digital yuan with foreigners at the upcoming 2022 Winter Olympics in Beijing.  International Trial for Digital Yuan According to CNBC on Sunday (April 18, 2021), Li Bo, deputy governor of the PBOC said that international visitorsRead More

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Bahamas Ranks First in CBDCs, China’s Digital Yuan Third: PwC Report

Professional services firm PwC has given the Bahaman Central Bank Digital Currency (CBDC) the highest rank in a new report. The Caribbean island tops even China’s digital yuan, which is widely thought to be the most progressed CBDC.

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US Government Concerned China’s Digital Yuan Could Threaten Dollar as the World’s Dominant Reserve Currency

The U.S. government is reportedly concerned that China’s digital yuan could threaten the U.S. dollar’s status as the world’s dominant reserve currency. Officials at the Treasury, State Department, Pentagon, and National Security Council are increasing their efforts to understand the implications of China’s central bank digital currency. Digital Yuan Could Be a Threat to US […]

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The US considers the potential threat of the digital Yuan

The United States is currently examining China’s digital Yuan to see if the digital… The post The US considers the potential threat of the digital Yuan appeared first on Coin Journal.

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China expands testing of digital yuan this month

China has been leading in terms of the development of its Digital Currency Electronic Payment [DCEP] or commonly known as, Digital Yuan and the country has already been carrying out different levels oThe post China expands testing of digital yuan this month appeared first on AMBCrypto.

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Digital yuan campaign planned for contested island in the South China Sea

Participants will receive a discount for every central bank digital currency expenditure worth 100 yuan.

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China’s Central Bank Admits Surging Price Of Bitcoin Has Boosted Interest In Digital Yuan

China’s Central Bank seems to have noticed a spike in the interest rate of residents towards the country’s Digital Yuan. The project is expected to help China join in the digital race by replacing a significant number of its fiat with the digital Yuan.

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China says ‘fully anonymous’ digital yuan is ‘not feasible’

The Chinese government is hoping to maximize the privacy settings on the upcoming digital yuan, the state’s native Central Bank Digital Currency (CBDC), a report on local publication SCMP said Monday.

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Ant-Backed MYbank Reportedly Involved in China’s Digital Yuan Trial

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.

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Shenzhen Continues CBDC Trials, Distributes Another $3 Million in Digital Yuan

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 event.

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Chinese City Plans Third Digital Yuan Pilot, Giving Away $3M in Prize Draw

Lottery entrants can apply to win 200 digital yuan each.

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Digital Yuan gains major support after initial airdrop

China has airdropped $3 million worth of its Digital Yuan, and the central bank…

The post Digital Yuan gains major support after initial airdrop appeared first on Coin Journal.

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Suzhou Government to Airdrop $3 Million in Digital Yuan for CBDC Trial

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 some lucky winners.

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Suzhou city prepares to roll out digital yuan trial scheme

Chinese city Suzhou has decided to launch what it calls a “red envelope” trial for the country’s impending digital yuan. This will be the second time a Chinese city will be rolling out a test phase for the digital yuan.

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Huawei Backs the Digital Yuan

The upcoming range of Huawei smartphones will have digital yuan wallets, the phone manufacturer has announced on Oct 30. Mate 40 Smartphones Have Digital Yuan Wallets Through its Weibo channel, the Shenzhen-based tech giant said the central bank-backed currency (CBDC) wallet on their Mate 40 series will be secure, private, and support offline transactions.

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There Won’t Be Any Stablecoin For The Digital Yuan If PBoC Implements Revised Banking Law

China’s Central Bank, the People’s Bank of China (PBoC) is looking to revise the current banking law to legalize the Digital Yuan and prohibit the development of any tokens pegged to the digital Yuan in the country.

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Nearly 2 Million Sign Up for China’s Digital Yuan ‘Lottery’

Around 50,000 digital "red envelopes," reminiscent of the traditional gifts doled out in China for special occasions and each containing 200 digital yuan ($29.60), were handed out Monday.

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Digital Yuan Giveaway: China’s Shenzhen City Hands Out 10 Million Yuan in Central Bank Digital Currency

A major Chinese city is giving away 10 million yuan in the country’s central bank digital currency this weekend. Recipients can use their digital yuan at 3,389 stores next week. The city aims for the giveaway to boost usage of the new government-backed digital currency.

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China’s Central Bank, Major City to Hand Out $1.5M in Digital Yuan

A local report suggests the pilot is an indication that the digital yuan is close to being launched.

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People’s Bank of China (PBoC) Testing Digital Yuan (DCEP) for Credit Card Payments

China has been aggressively developing its central bank-issued digital currency (CBDC), popularly known as digital yuan. As per the latest reports, the People's Bank of China is currently running a pilot project to test the use cases of its digital yuan for card payments, fees, credit card payments, and more.

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Bitcoin-friendly Singapore wants to team up with China for “Digital Yuan,” here’s why

East Asian nations are forging ahead with their digital currency and blockchain plans, with most being largely lenient towards large-cap digital assets like Bitcoin. The post Bitcoin-friendly Singapore wants to team up with China for “Digital Yuan,” here’s why appeared first on CryptoSlate.

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Katherine Wu on DeFi and the Inevitability of the Digital Yuan

How DeFi found its footing in 2019 and what it means that 2020 will see the launch of a Chinese digital yuan.

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Ex-China Central Bank Governor Talks About Upcoming Digital Yuan and Its Benefits

The current president of the Chinese Finance Association, Zhou Xiaochuan, has recently talked about the upcoming digital yuan. According to the economist, who has worked as the former head of the People’s Bank of China, the country’s central bank, China will continue on its path to create a digital yuan to be used for both […]

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China's digital yuan will be the 'weapon' of de-dollarization

Whether the dollar likes it or not, the digital yuan is coming. China has staked its claim for a digital version of its fiat currency, and by the looks of things, the ambition is truly global.

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PBoC official on CBDC: Front runner will take the whole market

China's Central Bank, People's Bank of China [PBoC] has been working proactively on its digital yuan and according to an official, it will be no less than a "horse race" with financial institutions adThe post PBoC official on CBDC: Front runner will take the whole market appeared first on AMBCrypto.

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Coinbase officer's call for tokenized U.S Dollar wins Circle CEO's support

Amidst reports suggesting that China is coming up with a government-backed digital yuan, many well-known crypto-proponents in the space have urged lawmakers to tokenize the U. S dollar. In the latest dThe post Coinbase officer's call for tokenized U.

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Joe Lubin: China Will Avoid Blockchain’s ‘Decentralizing Aspects’

Ethereum co-founder and ConsenSys CEO Joe Lubin says he doesn’t see a reason for China’s central bank to implement blockchain for the digital yuan

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