[Sep 19 2:30 AM] New data shows that 134 countries, representing 98% of global GDP, are now exploring central bank digital currencies (CBDCs), with 66 nations advancing to pilot or development stages. Every G20 nation is engaged in CBDC efforts, with notable…
[Jun 15 3:23 AM] In Zhejiang province, China, a criminal gang exploited digital yuan accounts to illegally cash out over 200,000 yuan ($27,566) within four days. The digital yuan, or e-CNY, is the People’s Bank of China’s (PBOC) central bank digital currency…
[May 17 9:45 AM] The Hong Kong Monetary Authority (HKMA) and the People’s Bank of China (PBOC) have advanced the digital yuan (e-CNY) pilot for payments, aiming to increase e-CNY wallet usage in Hong Kong. Residents can now set up and top up wallets via the Faster…
[May 12 11:47 PM] Some participants of China’s CBDC pilot program are reportedly hesitant to hold onto the digital yuan, citing a range of concerns with using the state-backed digital currency.
[Nov 28, 2023 11:00 PM] Standard Chartered Bank (China) has become one of the first foreign banks to participate in China’s central bank digital currency (CBDC) pilot. The bank explained that as an international bank rooted in the Chinese market for 165 years…
[Oct 13, 2023 4:30 PM] Shenzhen has become home to an industrial park established to promote China’s central bank digital currency (CBDC). Several financial companies are already settling there, the Chinese megacity announced while unveiling almost a dozen initiatives to…
[Sep 28, 2023 5:30 AM] Trying to make the digital yuan more attractive for foreigners, China has added a “recharge before use” feature to its digital currency system. The upgrade will allow visitors from abroad to replenish a digital yuan wallet through the global…
[Sep 25, 2023 7:01 AM] The e-CNY app now allows tourists to top-up their wallets using Mastercard and Visa payments with a “recharge first and use later” option.
[Jul 19, 2023 11:29 PM] While the adoption and use cases of China’s e-CNY are expanding, the digital yuan still only represents 0.16% of China’s monetary supply.
[Jul 12, 2023 10:30 PM] The state-owned financial institution Bank of China has revealed a partnership with China Unicom and China Telecom in order to test SIM cards and near-field communication (NFC) payments tethered to the renminbi. The Bank of China explains that the…
[Jul 11, 2023 5:56 AM] China may have banned the use of cryptocurrencies but stablecoins might have a role to play in the proliferation of its national currency.
[Jul 5, 2023 1:36 AM] The newly launched merchant collection solution allows businesses automated settlement of e-CNY into their CNY bank deposit accounts.
[Mar 8, 2023 9:00 AM] Chinese social media platform Wechat has introduced support for the state-backed digital yuan in its popular payment app. Over a billion users will now ostensibly be able to take advantage of fast payments with the digital currency issued by the…
[Feb 5, 2023 10:40 PM] Multiple Chinese city governments have given away millions worth of e-CNY to try to promote consumption around the holiday season.
[Feb 2, 2023 2:30 AM] An economics professor and former adviser to the People’s Bank of China has urged the Chinese government to reconsider its ban on cryptocurrencies. He warned that banning crypto activities could result in missed opportunities that are…
[Jan 19, 2023 8:21 PM] China's central bank digital currency (CBDC) has seen new use cases in recent days, including buying securities and making offline payments.
[Dec 29, 2022 9:30 PM] A former China central banker said cumulative e-CNY transactions only crossed $14 billion in two years, adding the results were “not ideal.”
[Dec 28, 2022 1:00 AM] A traditional Chinese way of gifting money that’s gone virtual with the rise of digital payments has been introduced into the digital yuan wallet app.
[Dec 13, 2022 6:30 AM] The Suzhou branch of the Chinese insurance company China Pacific Insurance, together with the Bank of Communications, recently announced the launch of a digital currency account insurance product. The launch comes at a time when the number of…
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