Chinese banks are exploring new methods of enabling digital yuan users to earn interest on their central bank digital currency holdings – with “smart management” tools that can detect when funds have been left idle for long periods of time…. Read More: Chinese Banks Launch Automatic Digital Yuan-to-Fiat Conversion Tools Read more »Pay, Trade,…
Read more
The e-payments giant Alipay, part of the Alibaba business empire, has added an advanced search function for users wishing to use its platform to make payments using the digital yuan within the fast-expanding pilot zone…. Read More: Alipay Provides Digital Yuan Boost as COVID-19 Deals PBoC Blow Read more »Pay, Trade, Buy Bitcoin with…
Read more
The Chinese government is giving away 15 million yuan in central bank digital currency (CBDC) to 130,000 residents of Shenzhen this Friday. The digital yuan can be used at nearly 5,000 stores with no minimum purchase required. Digital Yuan Pilot Continues China’s central bank, the People’s Bank of China (PBOC), continues to test its central…
Read more
Some Chinese citizens now appear to be paying their taxes in the digital yuan, with the pilot gathering pace in the nation’s fast-growing pilot area. Per Hangzhou.com, a number of government organs in Zhejiang province are trialing solutions that involve “the online transfer of digital yuan” to pay taxes, with the cities of Hangzhou,…
Read more
Chinese media outlets have been reporting on a new first for the digital yuan – with the central bank-issued token used to pay a court-issued fine for the first time. Per Chinaqw, on April 19, a man surnamed Wei, the plaintiff in a motor vehicle traffic accident liability dispute case, had been handed a…
Read more
The former governor of the central People’s Bank of China (PBoC) has reiterated claims that the forthcoming digital yuan has been designed primarily for retail use by domestic and even international users – not for cross-border trade purposes. China has loosely pegged the value of its yuan fiat to the USD for years, and…
Read more
First images have emerged of specialized digital yuan wallets provided by the Tencent-run e-pay platform WeChat Pay. Although the wallets are still in what appears to be beta testing and are not yet fully functional, some media outlets – such as Sina – appear to have been able to open wallets and test their…
Read more
As a number of countries across the globe are working on developing their respective central bank digital currencies (CBDCs), ensuring a separation between identity and transaction data could produce a better environment for privacy protection and could lead to public confidence and trust in using CBDCs, according to a recent paper released by the…
Read more
The Chinese e-pay platform WeChat Pay has unveiled a digital yuan interoperability solution that will allow users of the service to make payments in the central bank-issued token. As reported, the central People’s Bank of China (PBoC) has recently expanded the number of cities included in its pilot for the digital CNY to include…
Read more
China’s central bank, the People’s Bank of China, has added more cities to test its digital currency. According to the latest official data, the digital yuan has more than 261 million users.
PBOC Adds More Cities to Test Its CBDC
The Chinese central bank, the People’s Bank of China (PBOC), said Saturday that it…
Read more
