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Leading exchange KuCoin participated in a $10 million funding exercise for CNHC to support stablecoin adoption. KuCoin recently led a $10 million funding initiative for offshore Chinese yuan stablecoin issuer CNHC. This investment by the leading crypto exchange’s investment is part of a broader scheme to support stablecoins. In addition to KuCoin’s investor IDG
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“This investment in CNHC is part of KuCoin Ventures' broader strategy of investing in the Web3 infrastructure in the APAC region,” Justin Chou, chief investment officer of KuCoin and lead at KuCoin Ventures, said in a statement. “Hong Kong has a well-established traditional finance ecosystem. With the regulation and new
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The investment arm of major cryptocurrency exchange KuCoin is moving to support new stablecoin initiatives by backing a Chinese yuan-pegged stablecoin issuer.KuCoin Ventures has led a $10 million investment into stablecoin issuer and blockchain-based payment service provider known as CNHC.Announcing the news on March 16, KuCoin Ventures said that the
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Chinese super app WeChat is the second multipurpose social media platform in the country, after Alipay, to integrate digital yuan payments. WeChat has integrated the digital yuan into its platform to facilitate faster and more seamless user payments. The move by the leading Chinese social networking and payment app also
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WeChat, China’s leading social networking and payment app, has added the country’s central bank digital currency (CBDC), to its payment services, according to reports in local media. The move aims to help broaden the appeal of the digital yuan.WeChat now supports the fast payment function of the digital yuan wallet,
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WeChat has joined the growing list of Chinese platforms supporting the country’s central bank digital currency (CBDC), the digital yuan (e-CNY). The move is expected to boost digital yan adoption in the country. WeChat, a Chinese social media, instant messaging and payments solution from the stables of Tencent, has integrated the
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Moscow Credit Bank has issued a blockchain-based bank guarantee denominated in Chinese currency, claiming the product is the first in the country. The bank guarantee exceeds 100 million Chinese yuan — or nearly $144,600 USD at time of publication. According to a statement, the transaction was performed through the Masterchain blockchain
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A bank in Russia has issued the country’s first blockchain-based bank guarantee denominated in Chinese currency. The financial institution underscored the advantages of using a digital form of the document and pointed out that demand for yuan payments is growing. MKB Employs Bank of Russia’s Masterchain to Issue Bank Guarantee in
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The Chinese government’s beloved project of central bank digital currency (CBDC) has not sparked much enthusiasm in the citizens of Hong Kong. In the first four days since the “digital yuan” (also known as “e-CNY”) hard wallets became accessible to the islanders, only 625 Hongkongers had actually obtained them. As reported
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Millions of dollars worth of China’s Central Bank Digital Currency (CBDC) has been handed out across the country over the Lunar New Year period in a bid to boost its takeup.According to a Feb. 6 report in the Global Times, an English-language outlet of the state-ran People’s Daily newspaper, around
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