Shenzhen, China, is readying a new digital yuan giveaway as the city looks to showcase the CBDC at a range of upcoming sporting events. Per Shanghai Securities News, the city is set to hand out e-CNY tokens to some 50,000 citizens as part of its latest adoption drive. The coins will be distributed via airdrops…
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The Chinese central bank has updated its digital yuan app, adding new CBDC-powered features, “service” options, and utilities bill payment functions. The central People’s Bank of China (PBoC) released its mobile app in early 2022. It followed up with a major update at the end of last year. Per Shanghai Securities News, the bank’s latest…
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Beijing is getting bullish about the cross-border use of the digital yuan – with Chinese experts now talking about BRI/“new Silk Road” CBDC integration. Per the Chinese Securities Journal, Li Jianjun, the Vice President of the Central University of Finance and Economics, spoke about the e-CNY’s role in BRI “financial cooperation” this week. Li said…
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China is planning to showcase its digital yuan to the ASEAN nations, and could seek to make “cross-regional use” of its CBDC in the bloc. Some of the ASEAN (the Association of Southeast Asian Nations) members are politically aligned with China. But others are have closer ties to Washington…. Read More: China Looks to Make…
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A Chinese central bank chief has claimed the digital yuan will revolutionize the way the nation makes retail payments, and suggested the CBDC could one day “completely replace” cash. Per Yicai, Mu Changchun, Head of the Digital Currency Research Institute at the People’s Bank of China (PBoC), made the comments at the China International Financial…
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The Bank of China and the e-commerce heavy-hitter Meituan have signed a digital yuan collaboration deal, with both firms looking to step up their CBDC capabilities. Per the Securities Times, via Stockstar, the two firms have sealed a “cooperation agreement” that will see them “deepen” their “digital yuan cooperation.” The new deal will build on…
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The head of the Digital Currency Research Institute at the People’s Bank of China (PBOC), Changchun Mu, has emphasized the necessity of making the digital yuan available for all retail payment scenarios. Mu made this statement during a trade forum held in Beijing, where he also underscored the importance of compliance and the acquisition of…
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A Chinese commercial bank has launched new digital yuan-powered recycling rewards programs, with citizens receiving CBDC tokens in exchange for recycling their waste. Per Danzong, via Xinhua, the Qingdao Branch of the Bank of Communications has launched a CBDC-powered rewards solution. The bank debuted its solution in conjunction with the city’s household waste disposal provider…
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A Chinese town has agreed to become a digital yuan “demonstration town” after striking a CBDC deal with a major, state-run bank. Per JSChina, the deal was struck in Likou, a town in Siyang County, near the city of Suqian in China’s Jiangsu Province. The People’s Government of Likou Town reportedly signed a deal with…
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China is readying a fresh digital yuan adoption push ahead of next month’s Asian Games, with the nation ready to show off its CBDC to a large international audience for the first time. Citizens in the pilot zones will be able to buy tickets for the event using the central bank’s official CBDC app –…
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