According to Nikkei, the two countries are revamping their CBDCs efforts in response to the growing popularity of Chinese payments apps like Alipay and WeChat Pay.
JD.com has teamed up with the Bank of Communications to give away $2.5 million in a lottery for the second time as the launch of digital yuan nears.
The move was made possible by the involvement of MYbank, one of the leading internet-only banks in China, which is also majority owned by Ant Group.
While Libra faces tough regulatory scrutiny in Europe and the U.S, in Africa, it would also have to face tough competition from established players.
The week has had everything, from raising millions of dollars in funding, to regulators cracking down on fraudulent projects to adoption by major brands. Oh, and Libra sunk into more problems which led to its backers backing out.
As active as the blockchain and cryptocurrency spaces are on a continual basis, it may sometimes be difficult to keep up with everything that’s going on.
The Chinese payments giant has reiterated its anti-cryptocurrency stance, amid reports that some users are funneling BTC transactions through the service.
Alipay and WeChat Pay have allegedly sent legal letters to Huobi crypto exchange asking that it take their logos down.