China has made a strategic and quiet move in cross-border payments. They are now based on the digital yuan for transactions with 10 ASEAN countries and six Middle Eastern countries, bypassing the Swift system.
The People's Bank of China has been the entity in charge of connecting the digital RMB,…
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digital yuan
Fake digital yuan application triggers alarms in China
In an alert launched by the Chinese Ministry of Information Technology, citizens were warned about a fake digital yuan application that steals money and confidential data from users.
On social networks, the Chinese authority gave details…
French bank BNP Parisbas to promote use of digital yuan
BNP Paribas will support the use of the digital yuan by its corporate clients, through a joint effort with the People's Bank of China.
According to the local newspaper South China Morning Post, BNP Paribas China has partnered with the…
China will pay its public employees with digital yuan
The city of Changshu, in China's east China's Jiangsu province, is giving new impetus to the adoption of the digital yuan, China's central bank digital currency (CBDC), by starting to pay public sector employees their salaries in digital…
Crypto ban in China poses a risk
Huang Yiping, a former member of the People's Bank of China's Monetary Policy Committee, said the current ban on cryptocurrency trading in China could result in long-term missed opportunities for the formal financial system, including…
China’s digital yuan transactions top 100 million
China's digital currency (CBDC), issued by the People's Bank of the Asian country, has already penetrated 15 provinces, resulting in more than 369 million payments with this new financial instrument.
The PBOC recently issued a report,…
China continues to test the digital yuan
The Chinese government is planning to hand out about 15 million yuan worth of CBDC to about 130,000 residents of the Shenzhen community.
These coins will be accepted in at least five thousand stores, with no minimum purchase required to be…
Chinese banking to use digital yuan in investments and insurance
The state financial institutions China Construction Bank (CCB) and Bank of Communications (Bocom), leaders in the banking sector, are increasing their efforts to expand their pilot programs on the Central Bank Digital Currency, CBDC, of…
Chinese company JD.com will pay salaries in digital yuan
One of the largest e-commerce platforms in China, JD.com, has announced a new method of payment to its employees based on digital yuan, with the aim of contributing to the strengthening of the digital currency in the country.
The commerce…