Suzhou residents make 20,000 digital yuan transactions on Double 12
Chinese residents in the city of Suzhou made close to 20,000 transactions in a digital yuan trial on e-commerce giant JD.com.
Latest digital yuan News
China and Hong Kong working on digital yuan cross-border payments
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.
China: ‘Embrace blockchain, ignore crypto’
Authorities in China are pressing individuals and businesses to embrace the potential of blockchain technology while ignoring the role of digital currency.
Russia central bank snubs private ruble-pegged stablecoins
The Chinese model for its digital yuan is a better template for Russia in exploring a central bank digital currency, central bank officials said.
Digital yuan trial coming to China’s Suzhou City
Beginning December, residents across the city will be the central bank digital currency in so-called “red packets,” with 50,000 packets of the digital currency to be given away through a local lottery.
Trump’s intelligence chief warns against China’s digital currency dominance
The United States’ intelligence community has raised concerns over China’s continued dominance in the digital currency space.
China’s Xi Jinping urges G20 to lay groundwork for CBDC adoption
China’s President Xi Jinping has called on G20 leaders to lay the groundwork for central bank digital currencies adoption by developing standards and principles.
China to develop new CBDC test zone in Beijing
The PBoC’s Digital Currency Research Institute announced that it was planning to build a ‘legal digital currency test zone’ in Beijing.
Huawei new smartphone comes with digital yuan wallet
Huawei’s latest range of smartphones will allow its users to store, send and receive China’s central bank digital currency.
Shenzhen pilot program highlights potential for digital yuan
The digital yuan is not a digital currency like Bitcoin, but a virtual fiat currency issued and controlled by the People's Bank of China.
China’s new draft law seeks to legalize digital yuan but ban competitors
In a new draft law, the bank proposed banning any yuan-pegged digital tokens, effectively killing off any competitor to its central bank digital currency.
Hong Kong finance chief open to collaboration on digital yuan
The Hong Kong government is reportedly exploring working with Chinese authorities to incorporate the digital yuan in wholesale and cross-border settlement.