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Tag Archives: e-CNY digital yuan

PBoC Warns of Telecom Fraud With e-CNY as Pilot Scheme Expands

Oct 2, 2022

Olusegun Ogundeji

In the wake of China introducing an anti-telecom internet fraud law for crypto, it is now drawing attention to similar crimes being committed with its central bank digital currency (CBDC), the e-CNY. According to a senior People’s Bank of China (PBoC) official, there are now more th...

PBoC to Link e-CNY with Other Payment Tools via QR Code

Sep 12, 2022

Olusegun Ogundeji

The People’s Bank of China (PBoC) is working to promote interconnection between the digital yuan (e-CNY) and other electronic tools to enable payments by QR code scanning, its deputy governor has said. Fan Yiwei said at a digital finance forum last week that linking the digital ide...

What Xi Jinping’s Visit to Saudi Arabia Could Mean for e-CNY

Aug 14, 2022

Olusegun Ogundeji

The planned visit of the Chinese President to Saudi Arabia next week is likely to have a significant impact on the yuan (CNY) and its extended digital version, e-CNY. At Saudi Arabia's invitation, Xi Jinping's proposed trip next week has been dubbed an opportunity for Beijing and R...

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. ...