News with the tag "China CBDC"

In a move that reverberates beyond its borders, Hong Kong has taken a monumental step by launching its Digital Yuan Payments Pilot, a pioneering initiative that signals a transformative shift in the global financial landscape. This landmark launch not only underscores Hong Kong’s commitment to embra...

Shanghai Securities News recently disclosed an investigation into Yao Qian, a pivotal figure in China’s journey towards establishing a central bank digital currency (CBDC). Qian’s role at the helm of the People’s Bank of China (PBOC) was instrumental in spearheading the research and development effo...

Amidst the growing popularity and adoption of crypto in the U.S., a new legislative effort spearheaded by Texas Senator Ted Cruz seeks to put a brake on the Federal Reserve’s ambitions to introduce a central bank digital currency (CBDC) in the United States. This move highlights the growing concern ...

Singapore and China have teamed up on a pilot to allow tourists in both countries to spend China’s central bank digital currency, the digital yuan. “This will enhance convenience for travelers when making purchases during their overseas travel,” Singapore’s central bank described. Tourists in China ...

Source: AdobeStock / Proxima Studio Singapore’s regulatory body the Monetary Authority of Singapore (MAS) plans to begin piloting the digital currency “E-CNY” – also known as the digital yuan, in collaboration with China to encourage tourism spending. The two countries first signed a Memorandum of U...

Source: Adobe/amixstudio Standard Chartered, a British multinational bank, will initiate exchange services for China’s central bank digital currency (CBDC), the digital yuan, as it is set to participate in its trials. On November 27, Standard Chartered announced that it is set to participate in tria...

British banking giant Standard Chartered has announced its participation in the pilot testing of China’s digital yuan, known as the e-CNY CBDC. This move marks the bank as one of the first foreign financial institutions to engage actively in China’s burgeoning digital currency landscape. Expanding D...

On Wednesday, November 8, U.S. legislators presented a bill that prohibits federal government officials from engaging in business with iFinex, the parent company of USDT stablecoin issuer Tether. The development comes as the US government announces a crackdown against Chinese blockchain firms. Tethe...

PetroChina inked a major deal on October 18, becoming the first company to complete an international crude oil trade using China's central bank digital currency (CBDC), the Digital Yuan. The transaction was reported by China Daily, a media outlet owned by the Chinese Communist Party. This move could...

China has unveiled an industrial park in the Luohu district of Shenzhen, solely dedicated to the development of the digital yuan ecosystem. This monumental move comes as the central bank digital currency (CBDC), also termed e-CNY, witnesses continuous evolution. Shenzhen Park Boosts Digital Yuan Gro...