Over 300,000 stores and vendors in Changsha, China, now accept digital yuan payment – as the central bank digital currency continues to break new ground in the country…. Read More: Changsha, China: 300,000 of Our Merchants Accept Digital Yuan Read more »Sign up for e-EUR – the progressive stablecoin
Hainan’s market regulator wants to promote NFTs as part of the digital economy, but will actively work to weed out bad actors and speculative behavior. Authorities from the Hainan province in southern China have vowed to increase oversight on the nonfungible token (NFT) sector to “promote the healthy development” of the sector and to stomp…
Read more
The city of Shanghai is bringing metaverse activities to 20 urban locations, that will allow citizens to use digital tools in different ways according to the area. The initiative is part of a pilot program of the Shanghai Municipal Commission of Economy and Informatization to push more metaverse applications to the population. Shanghai Takes the…
Read more
Another update to China’s digital yuan app is allowing users in pilot zones to pay using their cell phone – even if their devices have run out of battery or have no mobile signal. Per Shanghai Securties News, Android users can now toggle a function that lets them “pay without network and/or electricity” in the…
Read more
The central People’s Bank of China (PBoC)’s digital yuan is set for another adoption drive as the Chinese New Year approaches: The domestic Chinese e-commerce giant Meituan has announced details of another token giveaway to celebrate the Year of the Rabbit. Lunar New Year, one of the biggest public holidays in China, falls on January…
Read more
The Bank of Japan is preparing to run a test trial of its own central bank digital currency (CBDC), the digital yen, with help from three top banks and regional institutions. The pilot program, estimated to last two years, will focus on testing the currency via several transactions, and experimenting with its functionality in environments…
Read more
According to Yi Gang, governor of China’s central bank, the process of designing the country’s digital currency is premised on two principles, the protection of user privacy as well as ensuring “financial security.” To achieve this, the central bank’s role will be limited to managing the digital currency’s “operating system” while the handling of personal…
Read more
Federal Reserve Governor Christopher Waller says he is not a big fan of the Fed issuing a central bank digital currency (CBDC). “It’s just a checking account at the Fed,” said the governor. Federal Reserve Chairman Jerome Powell recently said that the central bank has not decided whether to issue a digital dollar. Fed Governor…
Read more
Financial authorities in Hong Kong have unveiled a prototype of the Chinese autonomous territory’s own central bank digital currency called Project Aurum. The two-tier platform features a wholesale interbank and a retail e-wallet system, participants revealed. Hong Kong to Issue Retail Tokens and Stablecoins as Part of Project Aurum A collaboration between the BIS Innovation…
Read more
Experts from an economic institute in China have circulated the idea of creating a blockchain-powered digital currency that could lower Asia’s reliance on the greenback. The initiative comes against the backdrop of an expanding digital yuan pilot, and after recent trials of cross-border payments with state-issued digital currencies in the region. China Suggests Minting Asia-Wide…
Read more
