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The People’s Bank of China has urged for widening of the array of use-case scenarios for its central bank digital currency. The monetary authority believes that deeper interconnection with traditional e-payment platforms will make the digital yuan more convenient for consumers. China’s Central Bank Insists on Expanding Digital Yuan Environment The monetary policy regulator of … Read more
Authorities in two Chinese cities are promoting the digital yuan as a payment method in the public transportation system. Commuters on the subway of Ningbo and those taking the bus in Guangzhou will be able to purchase their tickets using the state-issued digital currency. Residents and Visitors of Another 2 Chinese Cities to Pay Transit … Read more
Scan and pay with e-CNY is now available in multiple Chinese cities for citizens looking to ride their local buses and subways. Go to Source Powered by WPeMatico
The unnamed recipient of the loan said the e-CNY transaction was fast and efficient; they received an equivalent of 500,000 CNY, which was $74,020 at the time of publication. Go to Source Powered by WPeMatico
The city has about 18 million residents in its prefecture-level area. Go to Source Powered by WPeMatico
Over 4,567,000 merchants across the country now accept the e-CNY as payment. Go to Source Powered by WPeMatico
The move comes as part of a government effort-led to revitalize consumer spending as a zero-COVID policy has devastated the countries’ economic hubs. Go to Source Powered by WPeMatico
Several U.S. lawmakers have introduced a bill to prohibit app platforms in the country from hosting apps that enable transactions using China’s central bank digital currency, the digital yuan. “The Chinese Communist Party will use its digital currency to control and spy on anyone who uses it. We can’t give China that chance,” said the … Read more
The Chinese government is giving away 15 million yuan in central bank digital currency (CBDC) to 130,000 residents of Shenzhen this Friday. The digital yuan can be used at nearly 5,000 stores with no minimum purchase required. Digital Yuan Pilot Continues China’s central bank, the People’s Bank of China (PBOC), continues to test its central … Read more
The People’s Bank of China (PBOC), the Chinese central bank, has revealed how its central bank digital currency (CBDC) is being used at the Beijing Winter Olympics. A top PBOC official says, “It seems all the foreign users are using hardware wallets.” Digital Yuan’s Latest Trial A top official from the Chinese central bank, the … Read more
