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Tag Archives: DCEP

China Crypto Roundup (Dec 7- Dec 14): China and Hong Kong Prepare for Cross-border Digital Yuan Testing, Hong Kong-based Crypto Exchange Halted Withdrawals Amidst Ongoing Investigations in China, China Suzhou’s Digital Yuan Trial Sees Completion

Dec 14, 2020

Vincent He

The top stories from the Chinese cryptocurrency sphere this past week include: China and Hong Kong prepare for cross-border digital yuan testing, CEO Global exchange halts withdrawals as founder is detained in China, China's digital yuan tries to gain a foothold.…… China and Hong K...

China Announces New DCEP Pilot and Lottery in Suzhou

Dec 8, 2020

After conducting a hugely successful trial of its upcoming digital yuan wallet this fall, China has set its sights on more large-scale trials of the new payment system. According to a report from Asia Nikkei, the Chinese government will be expanding the trials of its DCEP payment system th...

JD.com Breaks New Grounds With China’s CBDC Involvement

Dec 7, 2020

Olusegun Ogundeji

The proposed testing of China’s central bank digital currency (CBDC) in Suzhou is going to involve the fintech arm of JD.com accepting digital yuan as payment for some products on its online mall, the Chinese e-commerce company has said. JD Digits will participate in the Suzhou pro...

Alibaba, WeChat Dominance to Make China’s CBDC Different

Dec 3, 2020

Olusegun Ogundeji

Many countries may be pursuing a central bank digital currency (CBDC) now but top consulting firm, Deloitte says the dominance of tech giants Alibaba and WeChat will make China’s version different. “In fact, introducing a CBDC in China would differ from other countries due to th...

Suzhou City Getting Ready for Chinese CBDC Test

Nov 24, 2020

Vincent He

Suzhou will become the second Chinese city after Shenzhen to experiment with the country’s sovereign digital currency on Dec. 12, according to the report. The city located in Jiangsu Province of East China will play host to a shopping festival dubbed “Double 12” and gauge the DCEP's...