All is set for the next step in China’s move towards the creation of a Central Bank Digital Currency (CBDC). This time around, a test of the developing product will be carried out in the country’s province of Hainan. The exercise is expected to kick- off on April 12, 2021, and run un...
The initial pilot for the digital yuan cross-border implementation between China and Hong Kong has been completed. The technical tests on the project were confirmed by the director of the People’s Bank of China (PBoC) research bureau, Wang Xin. During a press conference on April 1...
China’s massive efforts to digitize its national currency have proven to be very effective, as the country has begun seeing more and more real-life use cases for the digital yuan. The large-scale pilot tests that have been conducted in major financial hubs such as Beijing and Shenzhen have show...
The massive effort China has been putting into the development of its upcoming digital yuan doesn’t mean that it has been blind to how other countries see the digitalization of their national currencies. According to the latest report from the Chinese magazine Money 163, the China Internet F...
During the past weekend, the price of bitcoin has dropped below the $40,000 level. With the bitcoin rally continuing and keeping breaking new all-time highs, market participants have warned a correction could be imminent. Market participants warn a pullback ahead Bobby Lee, the founder...
China has continued with the process of testing its Central Bank Digital Currency (CBDC), otherwise known as Digital Currency Electronic Payment (DCEP). This time, the real-life test has returned to the city of Shenzhen where a similar test was carried out in the last quarter of 2...
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...
The “red packet” for China’s CBDC pilot in Suzhou city will come into effect at 20:00 this evening and will be valid from 20:00 on December 11 to 24:00 on December 27. The red packet issued can be consumed in the designated offline merchants in Suzhou city through the "Digital Yuan A...
With major pilot projects taking place across the country, the future of the Chinese digital yuan has been the focus of most of the media attention directed towards the country. The country has set its sights on making the digital yuan the go-to currency during the 2022 Beijing Winter Olympics...
China’s Digital Currency Electronic Payment (DCEP) project is gathering a lot of momentum as the actual realization seems more realistic with every passing event. Having executed a successful pilot program in Shenzhen, and working towards another test in Suzhou, discussions between Hon...
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