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The former governor of China’s central bank, Zhou Xiaochuan, helped pave the way for China’s national digital currency (DC/EP), which is poised to have a major impact on both China and the global economy. A number of experts believe the digital yuan could challenge the supremacy of the U.S. dollar, disrupt
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Hong Kong Monetary Authority (HKMA), the city’s central banking institution, said it is working with the People’s Bank of China (PBOC) to test digital yuan use cases. PBOC’s Digital Currency Institute and the HKMA are discussing the technical pilot testing of using e-CNY for making cross-border payments while making the corresponding
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Chinese e-commerce firm JD.Com says it's become the first online platform to accept the nation's central bank digital currency. Source
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The digital yuan, China’s planned national virtual currency, would account for 15% of total consumption payments in ten years, helping commercial banks gain more ground from fintech companies, according to a Nov. 17 Goldman Sachs report shared with CryptoX.The Digital Currency Electronic Payment (DC/EP) could be a more attractive alternative
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Ant Group’s suspended initial public offering (IPO) has shed further light on a possible motivation behind China’s digital yuan. The Chinese government appears to view the payments giant as a destabilizing force to China’s economy, and the digital yuan is a way to keep companies like this in check. Industry watchers
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The governor of the People’s Bank of China praised recent tests of its national digital currency at the Hong Kong Fintech Week conference on Monday.Over 4 million transactions totaling more than 2 billion yuan ($299 million) have been conducted using the digital yuan, Yi said.Financial services in remote areas have
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Huawei has pioneered the integration of DCEP hardware wallets in its new Mate 40 5G-powered smartphone series.China-based Huawei Technologies Co Ltd has unveiled its latest Kirin-powered smartphone series dubbed the Mate 40 with additional digital currency capabilities. Per a report from TheBlock, the Huawei Mate 40 smartphones which come with
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The upcoming Mate 40 line of devices will feature a built-in hardware wallet for China's central bank digital currency. Source
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China’s digital currency approach will favor its domestic retail system and prevent the dollarization of the economy according to one former senior official.Zhou Xiaochuan, the president of the Chinese Finance Association and former governor of the People’s Bank of China (PBoC), told attendees at a Eurasia Forum conference on Oct.
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A cross-boundary digital yuan could bring Hong Kong closer to China, Hui said. Source
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