digital yuan Archives

China eyes cross-border trade with Singapore as CBDC nears $250B transactions

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26 July, 2023

China eyes cross-border trade with Singapore as CBDC nears $250B transactions

Apart from integrating a new wave of cross-border functionalities in its digital yuan, China is looking to drive adoption rates...

Business

Wahid Pessarlay

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15 July, 2023

Bank of China tests digital yuan SIM card payments using NFC technology

Aside from the CBDC functionality, the Bank of China stated that the SIM cards may support several applications, including access...

DBS Bank floats digital yuan offering for corporate clients in China

Business

Wahid Pessarlay

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11 July, 2023

DBS Bank floats digital yuan offering for corporate clients in China

DBS Bank backs the mass adoption of China's CBDC, laying plans to launch a new offering that would allow mainland...

China’s Jinan city accepts digital yuan as payment for bus rides

Business

Wahid Pessarlay

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9 July, 2023

China’s Jinan city accepts digital yuan as payment for bus rides

The pilot will run from July 1 until September 30 and is designed to enable administrators to test-run a full-scale...

Shanghai Clearing House floats digital yuan services for commodity trading

Business

Wahid Pessarlay

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30 June, 2023

Shanghai Clearing House floats digital yuan services for commodity trading

One of the changes of the new regime is abolishing the 2022 “Guidelines for the Spot Clearing Business of Bulk...

Second iteration of cross-border CBDC pilot between China, Hong Kong falters

Business

Wahid Pessarlay

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24 June, 2023

Second iteration of cross-border CBDC pilot between China, Hong Kong falters

The CBDC pilot initiative hit a road bump following several user complaints, including the limited number of merchants accepting the...

China expands digital yuan pilot for SME loans to trigger widespread usage

Business

Wahid Pessarlay

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23 May, 2023

China expands digital yuan pilot for SME loans to trigger widespread usage

Banking officials state that relying on CBDCs for SME loans can ensure "the authenticity and credibility of the closed-loop circulation...

Fuzhou lures Web3 firms with incentives to set up shop in the city

Business

Wahid Pessarlay

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20 May, 2023

Fuzhou lures Web3 firms with incentives to set up shop in the city

After baring its metaverse ambitions, China is now focusing on fortifying its Web3 ecosystem, with Fuzhou leading the way by...

France’s BNP Paribas partners with Bank of China to promote digital yuan usage

Business

Wahid Pessarlay

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11 May, 2023

France’s BNP Paribas partners with Bank of China to promote digital yuan usage

A digital management system for corporate clients will encourage "efficient and real-time" adoption of China's CBDC, according to a statement...

China moves forward with CBDC cross-border payment experiments

Business

Wahid Pessarlay

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28 April, 2023

China moves forward with CBDC cross-border payment experiments

As downloads and usage of digital yuan wane, China bares new plans to promote its CBDC by using it in...

China doubles down on digital yuan adoption with new payment scheme

Business

Wahid Pessarlay

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26 April, 2023

China doubles down on digital yuan adoption with new payment scheme

The Chinese city of Changshu is shaping itself as a model for CBDC adoption as it introduces a new payment...

Russia wants BRICS nations to explore new trade currency

Business

Wahid Pessarlay

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4 April, 2023

Russia wants BRICS nations to explore new trade currency

India and Russia should take the lead in forming a financial relationship to ultimately create a new common currency, according...

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