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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
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
A former PBoC official says that his country has taken a cautious approach with the digital yuan. Go to Source Powered by WPeMatico
Preliminary talks are underway to begin testing the e-CNY in the special administrative region of Hong Kong. Go to Source Powered by WPeMatico
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
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
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
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 pilot program is picking up speed. Go to Source Powered by WPeMatico
“We need to prevent dollarization — this is one of the major designing points of the Chinese DCEP,” said Zhou Xiaochuan. Go to Source Powered by WPeMatico
