Digital Yuan

China Pushes Digital Yuan for Wage Payments in Changshu

by

Changshu, a city in China with more than 1.5 million inhabitants, will pay public workers’ wages with the Chinese central bank digital currency (CBDC), the digital yuan. The move marks an acceleration of the adoption plans that Beijing has for the…

Russia Launching Payment System With ‘No Restrictions’ — Digital Currencies to Be Completely Unrestricted

by

Russia is launching a new payment system that is “bound by no restrictions” where digital currencies could be used in cross-border payments, said Russian Finance Minister Anton Siluanov. “Two parties come to an agreement, make settlement payments, and no other country…

Digital Real Pilot to Run on Ethereum-Compatible, Permissioned Blockchain

by

According to the Central Bank of Brazil, the digital real pilot project will use an Ethereum-compatible, permissioned blockchain for the issuance of the tokenized version of the country’s currency. Hyperledger Besu, the open-source platform elected for the tests, will allow the…

Report: Chinese Company Launches Digital Currency Insurance Product

by

The Suzhou branch of the Chinese insurance company China Pacific Insurance, together with the Bank of Communications, recently announced the launch of a digital currency account insurance product. The launch comes at a time when the number of personal digital currency…

Hong Kong Presents Digital Currency Prototype, Project Aurum

by

Financial authorities in Hong Kong have unveiled a prototype of the Chinese autonomous territory’s own central bank digital currency called Project Aurum. The two-tier platform features a wholesale interbank and a retail e-wallet system, participants revealed. Hong Kong to Issue Retail…

China to Expand Digital Yuan Testing in Pilot Cities to Provincial Level

by

China’s central bank intends to enlarge the area covered by trials of its digital yuan currency in four regions of the country. A top representative of the monetary authority announced the move while highlighting that the People’s Bank has been stepping…

Nepal Prepares to Issue Digital Currency, Drafts Necessary Amendments

by

A task force in Nepal has proposed legal changes allowing the country’s central bank to issue its own digital currency. The move comes after a study indicated that such an initiative is feasible and recommended certain provisions that would authorize the…

China’s Central Bank Digital Currency Now Has 261 Million Users — $14 Billion in Digital Yuan Transactions Made

by

China’s central bank digital currency now has 261 million unique users, according to an official of the central bank, the People’s Bank of China (PBOC). Furthermore, transactions worth 87.5 billion yuan ($13.78 billion) have been made using the digital yuan and…

China’s Digital Yuan Wallet App Now in iOS and Android App Stores

by

China’s central bank has released its digital currency wallet app ahead of the Winter Olympics. The wallet app for the digital yuan, also known as e-CNY, can now be downloaded from the iOS and Android app stores in the country. Digital…