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Tag Archives: China DCEP

Fintech, Blockchain, DCEP Key to BRI’s Risks to US Interests

Mar 25, 2021

Olusegun Ogundeji

The Belt and Road Initiative (BRI) presents significant risks for U.S. economic, political, climate change, security, and health interests, the Council on Foreign Relations (CFR) has said in a new report. Among these risks are those stemming from China’s growing financial techno...

First Set of Shanghai Retailers Accept Digital Yuan

Mar 9, 2021

Olusegun Ogundeji

Two Chinese top banks have made it possible for two local department stores and one food caterer to become Shanghai’s first retailers to accept China’s digital yuan on a limited scale over the weekend. According to Li Wei, the Brand Director of Shanghai New World, one of the three r...

m-CBDC Project May Eventually Land on China’s BSN

Feb 26, 2021

Olusegun Ogundeji

The Multiple Central Bank Digital Currency Bridge (m-CBDC) project which runs on a distributed ledger technology (DLT) network could eventually run on China’s new Blockchain Service Network (BSN).  This is according to Fintech and China expert Richard Turrin, author of...

Digital Yuan Aims for USD, Needs to Win AliPay and WeChatPay First

Feb 19, 2021

Olusegun Ogundeji

There have been talks of China’s digital yuan or digital currency electronic payment (DCEP) project aiming to challenge the US dollar dominance on the world stage but a senior fellow at the Peterson Institute for International Economics has said that the digital currency would have to c...

With SWIFT, China’s Digital Yuan on Verge of Being Globalized 

Feb 7, 2021

Olusegun Ogundeji

After a series of major tests within its borders, China’s Digital Currency Electronic Payment (DCEP) project seems to be on the verge of being taken across borders following Thursday’s news of a joint venture with the global system for financial messaging and cross-border payments, SW...

Digital Yuan Arrives Shanghai in Card Form 

Jan 7, 2021

Olusegun Ogundeji

The trial of China's digital currency electronic payment (DCEP) project continues in yet another major city, Shanghai, and is being experimented in a physical card form instead of smartphones for digital payments. Medical staff at the Tongren Hospital Shanghai Jiaotong University Sc...

China’s DCEP Lands in Beijing for First Real Life Use

Dec 31, 2020

Olusegun Ogundeji

After the trial phase in Suzhou as an upgraded version of the Shenzhen pilot and two major banks - Postal Savings Bank of China and Bank of Communications - joining the experimentation, China’s digital currency and electronic payment (DCEP) project has reportedly found its way to Bei...