Yuan’s Global Reserve Currency Push Gains Strength as e-CNY Pilot Continues Across China

Jul 1, 2022

The adoption drive for digital yuan (e-CNY) within China is continuing even as the People's Bank of China (PBoC) steps up its effort to develop a yuan reserve with the Bank for International Settlements (BIS) and five other countries. China says it is teaming up with Indonesia,...

Cryptos, CBDCs Are Sanctions-Resistant, Can’t Help Russia For Now

Mar 9, 2022

Contrary to the view shared in some quarters, a fintech expert and the author of ‘Cashless’, a book on China’s digital currency revolution, Richard Turrin, has ruled it out that Russia could use cryptocurrency and central bank digital currencies (CBDCs) to avoid sanctions following its...

SWIFT Sanctions on Russia Draws Renewed Attention to Possible e-CNY Growth

Mar 1, 2022

A decision to kick Russia out of the Society for Worldwide Interbank Financial Telecommunication (SWIFT) could benefit China's cross-border payment system and accelerate its digital currency development, market trends suggest. According to reports, shares of leading Chinese compani...

Chinese Province Closest to Russia Plans e-CNY Pilot

Feb 24, 2022

Barely a month since the largest Russian lender Sberbank said it has started money transfer service to China through Alipay wallets, the Chinese province closest to Russia announces it is developing a platform economy that could see extended piloting of the digital yuan (e-CNY) in Heilong...

Russia set to toe China’s Line on Crypto Mining, Transactions 

Jan 21, 2022

Russia may be on the verge of following in China’s step to ban all crypto-related activities including trading and mining within its borders, according to a new consultation paper by the country’s apex bank. Like the People’s Bank of China in 2021, the Central Bank of Russia says it is ...