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AgBank — the world’s third-largest bank by assets — has indicated it will follow the PBoC’s cue and work to stamp out its clients’ crypto-related activities. Go to Source Powered by WPeMatico
As part of government efforts to get the digital yuan going, authorities in Shanghai will distribute $3 million worth of the central bank-issued currency among residents of Shanghai. The digital money will be dispersed through a lottery, a method that has already been implemented elsewhere in China. Lottery Winners to Get 350,000 Digital Red Envelopes … Read more
Leading Chinese banks are promoting the digital yuan over Alipay and WeChat Pay for an upcoming shopping festival in China. Go to Source Powered by WPeMatico
Retail investors are flocking to buy Filecoin on exchanges with predominately Chinese user bases and the head of the PBOC thinks the digital yuan has an uphill battle to take on Alipay and WeChat Pay. Go to Source Powered by WPeMatico
Alibaba’s Alipay and Tencent’s WeChat Pay reportedly account for 98% of the mobile payment market in China. Go to Source Powered by WPeMatico
The notion of China racing to launch a CBDC that will end U.S. monetary supremacy doesn’t hold up if you look at the facts on the ground. Go to Source Powered by WPeMatico
Lawmakers are prepping new tools to pursue tech firms accused of anti-competitive business practices. Go to Source Powered by WPeMatico
A representative for the Jack Ma Foundation confirmed to reporters that the businessman had “participated in the online ceremony of the annual Rural Teacher initiative event on January 20.” Go to Source Powered by WPeMatico
Cryptocurrencies may see a boost between China and the U.S., as the American president Donald Trump has signed an executive order banning financial transactions with eight China-based payment applications. Following the signing of Trump’s new executive order, popular payment apps including Alipay, Wechat Pay, and Tencent’s QQ will be banned in America in 45 days. … Read more
The platform is just the latest product in the fintech’s long-evolving blockchain solutions. Go to Source Powered by WPeMatico
