Unlike in Shenzhen, Beijing and Suzhou, the People’s Bank of China is expanding beyond the use of smartphones to make digital yuan payments.
Swedish bankers are weighing up the risks of a digital currency to their deposit base, as plans for the rollout of an e-krona continue at pace.
China’s digital currency electronic payment has been in testing phase in locations including Shenzhen, Suzhou, Xiong’an New Area, and Chengdu.
Turkey is set to begin trials of a new digital currency in 2021, after the country’s central bank announced it had been working on a digital lira.
The Bank of Japan is reportedly conducting research on a digital yen as it aims to keep up pace with neighboring China.
Patrick Thompson takes a look at some of the revolutionary developments in banking and finance that took place in 2020 involving blockchain technology and digital currency.
Banque du France is seeking to determine how a central bank digital currency can improve the fluidity and efficiency of payment and settlement systems.
China had learned a lesson from the hostile reception Libra, now Diem, has received globally, according to the former governor of the People’s Bank of China.
Chinese residents in the city of Suzhou made close to 20,000 transactions in a digital yuan trial on e-commerce giant JD.com.
While they are being touted as the future, it’s time to rethink and reevaluate the role that CBDCs will play in the future of finance.
Hong Kong’s central bank has been working with China’s digital currency institute to trial the use of the digital yuan on cross-border payments.