WeChat, China’s popular social media and payments app, has added the country’s central bank digital currency (CBDC) to its payment services, local reports have revealed. This move is expected to…
According to a recent Global Times report, Chinese cities have launched digital yuan (e-CNY) activities worth over $26.6 million (180 million yuan) to promote its adoption during the Spring Festival…
Several Chinese city governments have distributed millions of e-CNY to encourage consumption during the holiday season. Millions of dollars worth of China’s Central Bank Digital Currency (CBDC) were distributed across…
The People’s Bank of China will continue to expand the pilot program for its digital yuan after having introduced the CBDC in 17 provinces.
The People’s Bank of China included the country’s digital currency in calculations of the amount of currency in circulation in December for the first time, with e-CNY representing 0.13% of…
The PBoC assured the public that the digital yuan (renminbi) pilot is running steadily. The CBDC is currently expanding its pilot areas and undergoing more developments.
Yi Gang, Governor of The People’s Bank of China, said that the bank would work with the Hong Kong Monetary Authority on the digital yuan. He also notes that privacy…
China’s digital yuan took the centre stage in the world’s largest cross-border central bank digital currency (CBDC) trial to date, a report showed, pointing to how Beijing is speeding up…
China is undoubtedly leading the CBDC race but its phenomenal growth could threaten the existing monetary standards with the new digital yuan. The digital yuan’s transactional volume exceeded $14 billion,…
China’s digital yuan has processed over 100 billion yuan (close to $14 billion) worth of transactions so far, becoming the most widely adopted central bank digital currency (CBDC) across the…
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