Major payments app WeChat to add support for China’s digital yuan
While WeChat isn’t as popular outside of China as WhatsApp, it is ubiquitous on the mainland. Go to Source Powered by WPeMatico
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China’s central bank releases pilot version of digital yuan wallet
The “e-CNY (Pilot Version)” app was made available for download on the Chinese Android and Apple app stores on Tuesday. Go to Source Powered by WPeMatico
Over 140 million people have digital yuan accounts, says PBoC head
China’s CBDC hit 62 billion yuan in total transactions processed, according to PBoC’s digital currency head. Go to Source Powered by WPeMatico
New decentralized stablecoin in China targets international trade
Conflux will provide the technology to launch an offshore RMB stablecoin pegged to China’s CBDC, the digital yuan. Go to Source Powered by WPeMatico
Chinese banks explore e-yuan for selling investment funds and insurance
Bank of Communications and China Construction Bank are working with fund managers and insurers to facilitate e-yuan payments for Chinese citizens. Go to Source Powered by WPeMatico
Venezuela’s Maduro Wants to Offer Crypto-Based Loans to Agricultural Producers
Nicolas Maduro, president of Venezuela, stated the country could offer cryptocurrency-based loans to the agricultural sector, in addition to the traditional loans in several fiat currencies. He also stated that Venezuela has worked with petro and other cryptocurrencies for three years, pioneering the use of this kind of asset in Latam. Government Hints at Offering … Read more
Fed Governor Lael Brainard Can’t Imagine Future Without Digital Dollar
Pointing to a number of reasons why a digital version of the U.S. dollar should be created, Federal Reserve Governor Lael Brainard insisted that not having one wouldn’t lead to a sustainable future. The central bank official believes a digital dollar will have both international and domestic applications. US Fed’s Lael Brainard Can’t Wrap Head … Read more
Digital Yuan to Promote International Use of Chinese Currency, Experts Say
The new digital yuan, currently undergoing trials, can help to increase the international usage of China’s national fiat, experts have stated. As the renminbi (RMB, CNY) is becoming one of the world’s most important currencies, the People’s Bank of China is planning to conduct cross-border tests with the yuan’s digitized version, the e-CNY. Digital Yuan … Read more
China Offers Medics Digital Yuan Insurance Policy for Covid-19
China’s first insurance policy using the digital yuan for settlement has been issued in Shenzhen, local media reported. The new product, targeting medical personnel exposed to coronavirus risks, is offered by the country’s largest insurer, Ping An. The financial giant also has fintech and healthtech entities under its umbrella. Ping An Teams Up With Bank … Read more
China wants US senators to ‘stop making trouble’ out of digital yuan
China’s Foreign Ministry responded to U.S. senators’ claim regarding the digital yuan’s function as a tracking and tracing tool during the 2022 Beijing Winter Games. Go to Source Powered by WPeMatico