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Tag Archives: digital yuan

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...

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. ...

Digital Yuan Shows CBDC A Distant Cousin of Bitcoin

Jul 13, 2021

Olusegun Ogundeji

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...