While China’s CBDC sets the pace, the yuan stumbles in usage abroad
The past two years were much harder on the dollar, however. Go to Source Powered by WPeMatico
People’s Bank of China
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State-Backed Agricultural Bank of China Launches the First Digital Yuan ATMs
The Agricultural Bank of China (ABC), one of China’s “big four” banks, is embarking on a pilot program to enable the first digital yuan ATMs. The banking institution deployed the first machines in selected branches in Shenzhen. ATMs Will Work With a Smartphone App According to SZ News, the program is part of the ongoing … Read more
China Launches Digital Yuan ‘Hard Wallet’ Card Pilot Program
The People’s Bank of China (PBoC) have green lighted a physical card-wallet pilot to test its digital yuan. Coffee shop staff in a Shanghai-based university hospital was chosen as participants in the pilot. Wallet Card Can Pay or Accept e-CNY Without Wi-Fi or a Mobile Connection According to Tencent News, staff members at Shanghai Jiao … Read more
China has no plan to replace USD with digital yuan, former PBoC head says
A former PBoC official says that his country has taken a cautious approach with the digital yuan. Go to Source Powered by WPeMatico
China’s central bank plans digital yuan pilot for payments to Hong Kong
Preliminary talks are underway to begin testing the e-CNY in the special administrative region of Hong Kong. Go to Source Powered by WPeMatico
Though centralized, a digital yuan is too big for China to surveil, says Cypherium CEO
Despite ambitions of overtaking the dollar, China’s central bank will have a hard time monitoring all the transactions involved in a CBDC, though commercial banks might lend a hand. Go to Source Powered by WPeMatico
US intelligence is looking at Chinese CBDC as a national security threat
The Director of National Intelligence wants to have the SEC’s leader briefed on the dangers of the U.S. falling behind in crypto. Go to Source Powered by WPeMatico
IMF lawyers argue that central banks need reform before they can issue CBDCs
New and developing research from the International Monetary Fund suggests that central banks around the world need new legal definitions for tokenized currencies. Go to Source Powered by WPeMatico
China’s digital yuan is ‘a long way’ from beating USD says financial firm exec
Sounds like its CBDC is unlikely to dethrone the United States dollar as the world’s reserve currency anytime soon. Go to Source Powered by WPeMatico
China’s digital yuan pilots have processed $300M so far, says PBoC head
China’s digital yuan pilot program is picking up speed. Go to Source Powered by WPeMatico
