The city of Ningbo, in China’s Northeast Zhejiang Province, has announced that all 125 of its metro stations now accept digital yuan payment – as the Chinese central bank digital currency (CBDC) continues its adoption drive…. Read More: Major Chinese City’s Metro Begins Accepting Digital Yuan Payments Read more »Sign up for e-EUR – the…
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A Chinese state-owned commercial bank is set to pilot a digital yuan-powered “smart contract solution” that allows elementary school parents to pay for their children’s education using the e-CNY…. Read More: Chinese Parents to Use Digital CNY ‘Smart Contracts’ to Pay for After-school Lessons Read more »Pay, Trade, Buy Bitcoin with Credit Card
In a move seen as an attempt to pacify protesting bank clients, Chinese authorities in Henan province announced their latest repayment plan which sees customers with deposits ranging between $14,827 and $22,240 qualify for reimbursement. In addition, authorities said two unnamed officials from the province are being investigated for allegedly violating the law. Reimbursements Set…
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Social media users have slammed China’s reported use of military tanks to intimidate bank customers protesting against the freezing of their savings. Some users claimed the deployment of military tanks exposes the country’s underlying economic problems. Crypto proponents see the issue as a vindication of their long-standing argument. Savings Now Investment Products Some social media…
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China has expanded its central bank digital currency pilot program to include the payment of tax, stamp duty and social security. Residents in three major Chinese cities have begun paying tax, stamp duty and social security premiums using the country’s central bank digital currency — the digital yuan (e-CNY). According to a domestic news report,…
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Chinese tech colossus Tencent has continued its foray into the Metaverse after filing a patent for virtual concerts, flying in the face of warnings from Chinese banks and regulators. Chinese tech conglomerate Tencent has filed for a virtual concerts patent with the Chinese National Intellectual Property Administration (CNIPA), according to business data-tracker Qichacha. The application…
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Huobi Group co-founder Du Jun intends to safeguard all crypto assets for Chinese accounts before permanently closing them down by Dec. 31, 2021. The uncertainties sparked by China’s blanket ban on crypto trading have taken a downturn as homegrown crypto exchanges such as Huobi take proactive measures to protect and return existing investments residing on…
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Once reportedly the highest-paid executive at the Bank of China, Wai Kin Chim has joined BitMEX’s parent firm as an independent non-executive board director. BitMEX’s parent company 100x Group has hired a financial veteran with a professional background including the Bank of China. According to a Feb. 1 blog post on BitMEX, 100x has appointed…
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