CBDC tests are proceeding toward deployment, as Chinese internet, fintech and e-commerce giants are leading the digital yuan vanguard. While key central bank figures in the West like Jerome Powell and Christine Lagarde appear to be procrastinating on the subject of central bank digital currencies, China continues to make significant progress. China’s digital currency electronic…
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Major tech and commerce firms have been instrumental in helping China’s central bank develop the digital yuan. Major Chinese technology and commerce firms are starting to open up regarding their involvement in developing the digital yuan. Ant Group and Tencent Holdings revealed the extent of their collaboration with the People’s Bank of China in developing…
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It’s not entirely clear when Terence Zeng assumed his leadership role, though the appointment appears to have been recent. Following the high-profile appointment of Brian Brooks to CEO of Binance.US, it has come to light that the Malta-based parent company has reshuffled its executive leadership by appointing Terence Zeng as head of Greater China. Zeng…
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China wants to allow foreign athletes and visitors to use the county’s digital currency during the Beijing Winter Olympics in 2022. China’s central bank is looking to enable foreign athletes and visitors to use the country’s digital currency during the Beijing Winter Olympics in 2022, according to a top central bank official. Li Bo, deputy…
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The central bank official said stablecoins issued by private companies may require “stronger regulatory rules” than Bitcoin. Li Bo, recently appointed deputy governor of the People’s Bank of China, or PBoC, reportedly spoke on the benefits of crypto as an investment tool while highlighting regulatory uncertainty in the country surrounding digital assets. According to Chinese…
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Here’s what crypto and blockchain industry experts from China think about the digital yuan and how it has affected the blockchain space. This is part one of a multipart series on blockchain and crypto in China. China has been discussing the possibilities of national digital currency for half a decade, and the Chinese digital yuan…
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The central bank says strong interest in its CBDC project is partly being driven by Bitcoin’s recent surge, despite cryptocurrency still being banned in China. The cryptocurrency space may be helping to spawn its own competitors after a representative of the People’s Bank of China said Bitcoin’s (BTC) recent surge had caused renewed interest in…
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Retail investors are flocking to buy Filecoin on exchanges with predominately Chinese user bases and the head of the PBOC thinks the digital yuan has an uphill battle to take on Alipay and WeChat Pay. Distributed storage network project Filecoin is the talk of the town as FIL was the most highly traded token on…
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Alibaba’s Alipay and Tencent’s WeChat Pay reportedly account for 98% of the mobile payment market in China. China’s central bank digital currency, or CBDC, will provide backup for major retail payment services like AliPay and WeChat Pay as its key objective, according to an official at the People’s Bank of China. Mu Changchun, head of…
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The People’s Bank of China intends to enable anonymous digital yuan transactions of small amounts in order to protect “reasonable” anonymity needs. Chinese authorities are willing to ensure maximum user privacy for the country’s central bank digital currency, or CBDC, according to an official at the People’s Bank of China. Mu Changchun, head of the…
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