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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. Beijing Gives Away 269 Million Yuan in … Read more
A survey conducted among financial professionals has indicated that the industry wants Ukraine’s future digital currency to be used as a tool in the crypto space. The financial sector also favors a blockchain design for the e-hryvnia that would allow peer-to-peer transfers and fuel e-commerce. Financial Experts Define Potential Uses of Ukraine’s Digital Currency The … Read more
Bank of Thailand says a growing number of companies are asking for payments in cryptocurrencies, such as bitcoin and ether. The central bank reiterates its stance on crypto and warns of the risks of using them as a means of payment. The Bank of Thailand (BOT), the country’s central bank, issued a warning notice titled … Read more
“There is also no doubt in our mind that a major central bank will soon launch a digital currency and we expect this to happen within the next three years,” said Guardtime. Go to Source Powered by WPeMatico
The BOT said it may be forced to coordinate with the Securities and Exchange Commission to ensure crypto payments do not pose “extensive risks to the general public or the economic and financial system.” Go to Source Powered by WPeMatico
The central banks of France and Singapore are working on a digital currency interoperability system supporting multiple global CBDCs. Go to Source Powered by WPeMatico
While Visa and other major private payments networks see the potential of stablecoins, China’s central bank believes they pose serious risks to global financial systems. Go to Source Powered by WPeMatico
In mid-May, a report stemming from residents in Shenzhen, China explained that the digital yuan wasn’t seeing widespread participation, which the Chinese government has alluded to in many press releases. Now a handful of China’s state-owned banks have asked staff to recruit 200 to 300 digital yuan users. The banks are also giving away small … Read more
The Bank of Jamaica is getting ready to begin testing its planned central bank digital currency in collaboration with financial institutions in the country. Go to Source Powered by WPeMatico
While the U.S. ramps up discussions of a digital dollar and China’s central bank digital currency (CBDC) draws near, Japan’s CBDC, otherwise known as the digital yen, is getting closer to its realization as well. Japan’s ruling Liberal Democratic Party member, Hideki Murai, explained in a recent interview this week that more clarity on the … Read more