Chinese business travelers will be able to buy air tickets using the digital yuan, as the nation’s central bank digital currency (CBDC) pilot takes flight. Per the China Civil Aviation Network, the commercial banking firm China Merchants Bank has co-launched an e-CNY platform with the Civil Aviation Administration Clearing Center. The platform will allow companies…
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The Chinese city of Shenzhen says its residents have opened almost 36 million digital yuan wallets, as the nation’s central bank digital currency (CBDC) pilot breaks new ground. Per the Shanghai Securities News and the China Securities Network News, the claims were made by the Shenzhen branch of the central People’s Bank of China (PBoC)….…
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The city of Changzhou, China, is set to give away $700,000 worth of digital yuan tokens and coupons before the year is out, as the nation’s central bank digital currency (CBDC) pilot continues. Per Changzhou Evening News (via JSChina), the city is hoping to boost CBDC spending during an upcoming citywide shopping festival by distributing…
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The state-owned financial institution Bank of China has revealed a partnership with China Unicom and China Telecom in order to test SIM cards and near-field communication (NFC) payments tethered to the renminbi. The Bank of China explains that the pilot will be tested by selected users and areas and it currently only supports Android phones.…
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Beijing, China, says it will introduce “new digital yuan application scenarios,” and wants to take the lead in the adoption of the central bank digital currency (CBDC). Per the Securities Times, the comments were made by Zhao Wei Jiu, the Deputy Director of the Beijing Local Financial Supervision and Administration Bureau. Zhao was speaking at…
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Chinese state-owned banks are set to join efforts to integrate the nation’s central bank digital currency (CBDC), the digital yuan, with government-issued social security cards. Late last month, the Chinese Ministry of Human Resources and Social Security said it wanted to “explore and promote” ways to “add digital yuan payment functions” to the cards. The…
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Crypto-friendly bank DBS announced the launch of a digital yuan merchant collection solution for business clients. The new payment solution will allow mainland Chinese businesses to receive payments in the central bank digital currency (CBDC). The DBS merchant collection platform allows businesses automated settlement of e-CNY into their bank deposit accounts…. Read More: DBS Bank…
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Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________… Read More: Today in Crypto: NFT Royalties Reach Lowest Point in Two Years, Two Teens Arrested for BTC and ETH Scam, India and 18 Central Banks Discuss Using Digital Rupee for Cross-Border Payments…
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Jinan, the capital of the Chinese province of Shandong, has recently included the digital yuan as a means of payment for its public transportation system. According to local sources, digital yuan payments were implemented on July 1 in all city buses after being tested in just two bus lines. Jinan Includes Digital Yuan Payments In…
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Jinan, China, says all of its bus routes now accept digital yuan pay, and will incentivize adoption by granting discounts to central bank digital currency (CBDC)-paying passengers. Per the news outlet Shunwang-Jinan Daily (via e23), the city said that all of its bus routes’ software and card readers had been updated to allow all buses…
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