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China Crypto Roundup (Nov. 8-Nov. 14) :Chinese Big Companies Join Metaverse

1. Giant Network started to research Metaverse

Chinese listed company Giant Network said that Metaverse is still in its early stage, and the company has deployed a team to carry out pre-research work, and will promptly promote products in accordance with user needs and changes in technology maturity to create new business.

2. Digital RMB has a total of 123 million personal wallets opened and a transaction amount of approximately 56 billion yuan

Yi Gang, governor of People’s Bank of China (PBoC), said that PBoC has been studying digital fiat since 2014. As of October 8 this year, there have been more than 3.5 million digital RMB pilot scenarios, with a total of 123 million personal wallets opened and a transaction amount of approximately 56 billion yuan.

3. Tencent: As long as the regulations are complied with, Chinese government may support the operation of Metaverse service in China

Chinese social media giant Tencent Holdings expects Beijing to allow ‘metaverse’ virtual environment services to operate in China – provided they fall in line with Chinese rules.

4. Xiaohongshu opened their own NFT page

China’s most popular social media platform Xiaohongshu set up a built-in page in their app to purchase NFT digital collections they launched.

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