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digital yuan News and Articles



Central bank

Former head of the CB of China didn't see threats to SWIFT in digital yuan

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The digital yuan is primarily intended for the public and merchants, not to replace SWIFT or weaponize the currency. This was stated by the former head of the People's Bank of China Zhou Xiaochuan. The expert emphasized that e-CNY is not necessarily suitable for cross-border payments. For such...

WeChat digital yuan

WeChat Added Support for Digital Yuan

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Messaging and social media app WeChat, developed by the tech company Tencent and having over 1 bln users, started the support for China's official digital currency, the electronic yuan. A report by the media hub, TechNode, says that the function is available in 23 regions, including Beijing,...

USA

US prepares bill against digital yuan

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Many in the US political and business establishment see the digital yuan as a threat to the dollar. That is why the Senate has prepared a bill designed to limit the ability of companies to use the Chinese token (CBDC). Congressmen fear that the digital yuan will not only undermine the dominance of...

Senator Pat Toomey

Senator Pat Toomey saw the digital yuan as a threat to US national security

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US Senate Banking Committee member Pat Toomey urged Treasury Secretary Janet Yellen and Secretary of State Anthony Blinken to look into China's use of the digital yuan at the Olympics. According to him, eCNY poses a threat to the interests of the US economy and national security. The Winter Olympic...

China

Citizens of China download the app for transactions with digital yuan

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In-app stores for devices based on Android and Apple operating systems, the RMB transaction service ranked first in the number of downloads in China. This program is currently still in the testing phase. However, according to the results of the first week, after the application appeared in the...

Digital yuan

China started second phase of digital yuan testing

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The updated financial infrastructure of China and Hong Kong will be based on the digital version of the yuan (CBDC). The parties have already started the second stage of testing this tool, local media reported. Recall that the largest banks and IT companies from the Middle Kingdom also take part in...

digital yuan

The digital yuan can be used to pay for electricity

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Residents of several large Chinese cities will have access to the option to pay for electricity using the digital yuan. In test mode, such an opportunity will appear in Xi'an, Dalian, Beijing, Qingdao, Suzhou, Chengzhu, and Changsha. Test participants will be able to pay for electricity using a...

Olympics

The US wants to restrict use of digital yuan at the Olympics

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In the United States, Republican legislators believe that it is necessary to restrict the use of the Chinese digital yuan at the upcoming Beijing Olympics. The senators argued their decision, referring to espionage by the PRC. China announced that the digital yuan is going to be used as part of the...

China subway digital Yuan

Beijing Subway Started Allowing Payments With Digital Yuan

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Passengers of the Beijing subway now can use digital yuan as a payment method. The pilot program was released on Wednesday. As reports the Beijing Municipal Commission of Public Transport at the moment, the option is available at all 24 lines and 4 suburban railway lines in Beijing. Global Times...

Digita Yuan

The digital yuan began to be used to buy air tickets

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The Chinese digital currency (CBDC) has begun to be used as a payment instrument. As TASS clarifies, for the first time the digital yuan was used when buying an air ticket. The token was accepted for payment in Shanghai by Spring Airlines. The ticket, priced at 560 yuan (up to $ 86), was purchased...

Huawei

Huawei unveils smartphone with built-in digital yuan wallet

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The Chinese company Huawei has unveiled a smartphone with a built-in hardware wallet for China's central bank digital currency (CBDC). At a press conference on Friday, October 30, the company announced the release of the Huawei Mate 40 smartphone. Yu Chengdong, Huawei's general manager of consumer...

Digital Yuan

Legal framework for digital yuan to be presented in November

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At the end of last week, the People's Bank of China presented the public with a digital currency regulation (CBDC) bill. Then the regulator announced that the final version of the document would be ready by the end of November. The bill states that the digital yuan will be recognized as the...

China's bank

China's central bank wants to ban yuan-pegged stablecoins

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The People's Bank of China (PBOC) wants to pass amendments to the current central bank law, which provides for the legalization of the digital yuan but prohibits the circulation of stablecoins pegged to the national currency. On October 23, the CB issued a notice to accept public comment on the...

China ceases rumors of real estate trades with digital yuan

China ceases rumors of real estate trades with digital yuan

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China ceases rumours of real estate trades with digital yuan. It is sure now that the statements with reference to digital yuan being used to purchase estate are false. From the moment of its appearance, being extremely popular digital yuan has attracted a lot of of users. At the moment, China’s...

Digital Yuan

China is closer to launching digital yuan thanks to Alipay

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The People's Bank of China, with the support of the payment company Alipay, has finished work on the basic functionality of the digital currency and has now focused on preparing laws to regulate its circulation. Indirectly, the transfer of the project to a new stage is indicated by Alipay's...

digital yuan China

China disclosed details of the digital yuan issuance

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Financial company Huatai Securities published a report on the details of the payment system and digital currency of the Central Bank of China under development called DCEP (Digital Currency Electronic Payment). “Unlike digital currencies within a decentralized system such as bitcoin, DCEP uses a...

China's "Digital Yuan" might launch in 2020!

China's "Digital Yuan" might launch in 2020!

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The year 2019 has been quite the year for bitcoin. Although it has not seen its value rise like in 2017 it has caught the attention of many banks as well as authorities across the globe that are thinking to implement it into their systems. But now bitcoin is set to face an intense rivalry with...

China digital yuan

Bank of China: digital yuan will appear on WeChat and Alipay

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The digital currency from the People’s Bank of China will appear in WeChat and Alipay payment systems. You can use it without the Internet. This was reported by Reuters with reference to the deputy head of the payment unit of the People’s Bank of China (ZRY) Mu Changchun. Development should...

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