Bitcoin News / Bitcoin.com - 1 month ago
The city of Hong Kong has detailed the advancement of new Web3 and digital yuan initiatives as part of its 2024-2025 budget. In a speech, Hong Kong Financial Secretary Paul Chan stated that the city would expedite a Web3 sandbox for stablecoins and e...
Bitcoin News / Bitcoin.com - 2 months ago
The digital yuan, China’s central bank digital currency (CBDC), is being used as a security element in car prepurchase payment settlements. According to local media reports, a pilot test that allows customers to pay for their cars with digital...
Bitcoin News / Bitcoin.com - 3 months ago
The government of China has announced the creation of a metaverse standardization working group to establish different rules to govern the Chinese Yuanverse platform. The standardization group will be integrated by Chinese universities, government in...
Bitcoin News / Bitcoin.com - 4 months ago
The Shanghai branch of the Bank of China has completed the first settlement of precious metals using the digital yuan. The transaction, finalized on December 19, allowed the Shanghai Gold Exchange to close a $14 million precious metal trade after rec...
Bitcoin News / Bitcoin.com - 4 months ago
The Bank of China Hong Kong, the second largest bank in the region, has completed its first cross-border digital yuan-based trade. The transaction, finalized with its sibling bank, the Bank of China, served to receive the payment for an imported iron...
Bitcoin News / Bitcoin.com - 4 months ago
Singapore and China have teamed up on a pilot to allow tourists in both countries to spend China’s central bank digital currency, the digital yuan. “This will enhance convenience for travelers when making purchases during their overseas t...
Bitcoin News / Bitcoin.com - 4 months ago
Standard Chartered Bank (China) has become one of the first foreign banks to participate in China’s central bank digital currency (CBDC) pilot. The bank explained that as an international bank rooted in the Chinese market for 165 years, Standar...
Cryptocoins News / CoinJournal - 4 months ago
HSBC and Hang Seng Bank have officially joined China’s digital Yuan pilot.
HSBC China customers can now utilize their debit cards to access personal digital Yuan wallet services.
There have been collaborative efforts between foreign banks and...
Bitcoin News / Bitcoin.com - 5 months ago
The People’s Bank of China (PBOC) and the Hong Kong Monetary Authority (HKMA) are in the second phase of the integration tests of the digital yuan for payments and cross-border transactions in Hong Kong. This new phase includes more banks and t...
Bitcoin News / Bitcoin.com - 5 months ago
The People’s Bank of China (PBOC) is considering using the digital yuan to settle services and commodities trades with Hong Kong. According to Di Gang, deputy director-general of the Digital Currency Institute of the PBOC, this would help compa...
Bitcoin News / Bitcoin.com - 6 months ago
Eygpt has reportedly become the first Middle East North Africa (MENA) region country to issue so-called “panda bonds” after it issued Chinese yuan denominated bonds worth $479 million. Issuing panda bonds marks another step in Egypt’...
Bitcoin News / Bitcoin.com - 6 months ago
Petrochina, the largest Asian oil and gas producer, has completed a settlement using the Chinese central bank digital currency (CBDC), the digital yuan. The operation, which involved a purchase of 1 million crude barrels through the Shanghai Oil and...
Cryptocoins News / The Cointelegraph - 6 months ago
CBDC and de-dollarization saw major strides last week with the 1-million-barrel deal on the Shanghai Petroleum and Natural Gas Exchange. The digital yuan has been used...
Bitcoin News / Bitcoin.com - 6 months ago
Shenzhen has become home to an industrial park established to promote China’s central bank digital currency (CBDC). Several financial companies are already settling there, the Chinese megacity announced while unveiling almost a dozen initiatives to b...
Cryptocoins News / The Cointelegraph - 6 months ago
The government is incentivizing new residents to come develop payment solutions, smart contracts, hard wallets and promotions for the digital yuan. China opened an ind...
Bitcoin News / Bitcoin.com - 6 months ago
Veteran investor Jim Rogers, who co-founded the Quantum Fund with billionaire investor George Soros, has reiterated his warning of the end of U.S. dollar dominance. “I know that the era of the U.S. dollar is coming to an end. No currency stayed...
Bitcoin News / Bitcoin.com - 6 months ago
The Chinese digital yuan, China’s central bank digital currency (CBDC), now features an interconnection with the Hong Kong payment system, allowing tourists coming to mainland China to purchase and top up a digital yuan wallet. The system, crea...
Bitcoin News / Bitcoin.com - 6 months ago
In a recent interview, the European Bank for Reconstruction and Development’s (EBRD) chief economist, Beata Javorcik, highlighted a notable trend: Russia’s growing inclination to transact in the Chinese yuan. This shift, the economist emp...
Bitcoin News / Bitcoin.com - 6 months ago
Trying to make the digital yuan more attractive for foreigners, China has added a “recharge before use” feature to its digital currency system. The upgrade will allow visitors from abroad to replenish a digital yuan wallet through the global payment...
Cryptocoins News / The Cointelegraph - 7 months ago
The e-CNY app now allows tourists to top-up their wallets using Mastercard and Visa payments with a “recharge first and use later” option. Tourists planning to visit t...