China Introduces Student Digital Yuan Card to Track Purchases in New Trial

May 26, 2022

China’s digital yuan development has upped the ante since the turn of the year. The number and variety of trials have continued to increase, spreading the web of implementation options. Innovative methods of implementing the digital yuan have been unfolded, most recently of which is the student ...

Digital Yuan Now Accepted for Payment on Trains and Buses in Xiamen and Guangzhou

May 9, 2022

Chinese citizens and other residents of the cities of Xiamen and Guangzhou can now pay for bus fares and train services using the digital yuan. The Central Bank Digital Currency (CBDC) under test can now be used as an option to recharge the public transport cards in these two cities. Th...

China’s Payment Giant Alipay Launches Digital Yuan Applet

May 5, 2022

Alipay, a renowned payment platform in China has extended the propagation of the digital yuan through its latest implementation. It has created a “digital RMB” search function that would simplify the process of opening a digital RMB wallet for new users. This new creation also supports o...

Chinese Man Pays Court-Issued Fine in Digital Yuan in Landmark Event

Apr 23, 2022

The digital yuan is growing in status and achieving new milestones. In a recent scenario, a citizen of China has used the developing Central Bank Digital Currency (CBDC) token to settle a fine. This represents one of the outstanding applications of the token in the mainstream. Accord...

WeChat to Support Digital Yuan Pilot Program

Apr 8, 2022

China’s social media giant WeChat has concluded plans to support the nation's pilot program for the Central Bank Digital Currency (CBDC) also known as Digital Yuan. The plan which was initially revealed in the early days of 2022 is now set to kick-off, according to recent announcement...

China Considers Creating a Digital Yuan-Based Exchange

Dec 1, 2021

The Chinese government is already looking into the possibilities of creating a digital assets exchange that will support the digital yuan. The exchange is planned to be located in Beijing and will be one of the State Council’s efforts to support financial services within the capital. This ex...

First CBDC-Related Money Laundering Case Reported in China

Nov 9, 2021

The first case of money laundering involving the use of digital yuan has been reported in China. According to Chinese authorities, in several scam cases, the group involved in the crime used the digital yuan to steal funds from their victims which were further transferred out of the country. ...

IMF Braces to Monitor Rise of Digital Money Including CBDCs Like e-CNY

Jul 30, 2021

As the rise of digital money continues globally, including growing interest in central bank digital currency (CBDCs) like China’s digital yuan, the International Monetary Fund (IMF) has said it has to brace itself to be able to “monitor, advise on, and help manage this far-reaching and...

Why US May Raise Digital Yuan Concerns as Senior Diplomat Visits China

Jul 22, 2021

Brewing concerns over digital yuan use by individuals or entities in or outside China could make the list of key issues the US Deputy Secretary of State, Wendy R. Sherman, will discuss while in China later this week. A media note from the Department states that the Deputy Secretary w...

Digital Yuan Shows CBDC A Distant Cousin of Bitcoin

Jul 13, 2021

China’s central bank digital currency (CBDC) push is merely bringing to life what could be considered an extension of what cryptocurrencies could achieve, a fintech and China expert has suggested.  Richard Turrin, author of ‘Innovation Lab Excellence’ and ‘Cashless’, a book on C...