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Tag Archives: e-CNY digital yuan

e-CNY in First Stimulus Purpose Use

Jun 6, 2022

Olusegun Ogundeji

China's central bank digital currency (CBDC), the digital yuan (e-CNY), has been used for economic stimulus purposes for the first time. Shenzhen, and Xiong’an New Area last week announced the distribution of free e-CNY red envelopes which represent monetary gifts for residents to us...

Nigeria Leads China in PwC’s Retail CBDC Index

Apr 7, 2022

Olusegun Ogundeji

China may have been considered the first major economy to pilot a central bank digital currency (CBDC) in 2020 with its digital yuan (e-CNY), it is not leading the retail CBDC index according to the top consulting and accounting firm, PwC.  In the latest PwC 2022 CBDC Gl...

India, Saudi Arabia Consider Transacting in Yuan

Mar 17, 2022

Olusegun Ogundeji

In a new twist to what could inadvertently lead to an increase in the use of the digital yuan (e-CNY) for international trades when fully operational, India and Saudi Arabia are reportedly considering using Chinese yuan - instead of the U.S. dollar - for some of their oil transactions. ...

Chinese Province Closest to Russia Plans e-CNY Pilot

Feb 24, 2022

Olusegun Ogundeji

Barely a month since the largest Russian lender Sberbank said it has started money transfer service to China through Alipay wallets, the Chinese province closest to Russia announces it is developing a platform economy that could see extended piloting of the digital yuan (e-CNY) in Heilong...