Search Results for: digital yuan

digital yuan

Chinese Residents make 20K Digital Yuan Trial Event Transactions

In a trial of the country’s digital yuan, people in China conducted around 20,000 transactions through the e-commerce company JD.com. JD.com reported that 80 percent of participants born in the 1980s and 1990s used the platform to conduct transactions in the digital currency starting on Friday night, with at least one transaction greater than $1,527, […]

digital yuan vs usd

China’s Digital Yuan to Target the US Dollar Dominance 

The Central People’s Bank of China (PBoC) has confirmed that it is prepared to take center stage in a “new battlefield” of digital fiat-based competition. Between sovereign countries and claims that its own new token could help break “dollar dominance.” In its digital yuan project, which is already in advanced testing phases. The PBoC has […]

Digital Yuan

China Extends Digital Yuan Trials to Beijing and Neighboring Provinces

China’s Ministry of Commerce today announced it would extend the trials of the nation’s digital currency central bank (CBDC) to include Beijing, as well as provinces Tianjin and Hebei. According to a Wall Street Journal article dated Aug 14, there is not yet a fixed time when the Chinese CBDC’s expanded pilot program will begin. Still, […]

Report: Another Chinese giant, Meituan Dianping, Might Test Digital Yuan

As the People’s Bank of China (PBoC) – the country’s central bank – is said to have engaged in negotiations. With a giant online food distribution network to check the digital yuan. The roll-out of China’s much-discussed central bank digital currency (CBDC) is getting one step closer. Citing “people with direct knowledge of the matter,” […]

Digital Yuan Will Have Trouble Displacing Tether in Asia: Expert

China’s central bank’s digital currency is generally known as a way to challenge the supremacy of the US dollar, not Bitcoin (BTC). Yet acceptance in niches where crypto versions of the dollar flourish can be difficult to find, especially Tether (USDT). Charles Yang of Genesis Block explained at the Unitize panel on Monday why DCEP, […]

Expert: China’s Digital Yuan Will Target the Dollar, Not Bitcoin

Having discovered what cryptocurrency space and blockchain needs, China would strive to compete with the U.S. dollar, not Bitcoin (BTC), with its highly awaited digital yuan. Matthew Graham, a former Chinese investment banker and CEO of Beijing-based Sino Global Capital. Examined what is known about the emerging digital currency so far. And argued that the […]

central bank of china

“Digital Yuan Will be Different from Bitcoin” Says Central Bank of China

Central Bank of China deputy director Mr. Mu Changchun announces in his recent media interaction that Digital Yuan will be different from Bitcoin and Stablecoins. According to the South China Morning Post, China’s national digital currency would be a digital form of the Yuan. The head of the digital currency research institute at the People’s […]

Japan's research on central bank digital currency advances

Japan the Next Country to Mint a Central Bank Digital Currency

With finance ministers and central bank governors have recently discussed cryptocurrency regulations at the G-20 summit, Japan is taking notice at home. Leaders at the Bank of Japan (BOJ), Ministry of Finance (MOF), and financial Services Agency (FSA) have held a number of meetings to determine whether the country should become next in line to […]

japanese official calls for urgent development of digital yen

Japanese Official Calls for Urgent Development of Digital Yen

Another Japanese lawmaker has publicly called for the swift development of the digital yen. The head of the banking and finance systems research commission at Japan’s Liberal Democratic Party, Kozo Yamamoto, said that the country should create a digital yen in two-to-three years. As per the report by Reuters, Yamamoto said Japan should plan for […]