Hong Kong to launch stablecoin sandbox in Web3 push
Hong Kong’s budget revealed the city is expanding its digital yuan pilot testing to allow residents to top up e-CNY wallets through the FPS real-time system.
Latest e-CNY News
Shenzhen ramps up CBDC adoption with first-ever e-CNY industrial park
Shenzhen, aiming for a widespread digital yuan adoption, Shas unveiled an industrial park housing various financial institutions that will serve as the key to facilitating payment solutions using e-CNY.
Bank of China tests digital yuan SIM card payments using NFC technology
Aside from the CBDC functionality, the Bank of China stated that the SIM cards may support several applications, including access control, car keys, and a digital identity system.
Lunar New Year sees $26M in digital yuan given out to trigger CBDC adoption: report
Regional Chinese governments have handed out over 180 million yuan ($26.5 million) during the Chinese Lunar New Year, aiming to "promote consumption" amongst citizens.
China: Upgraded digital yuan now with smart contract function
Digital yuan's smart contract functionality was integrated into the food delivery app Meituan, allowing users of the digital yuan to automatically compete in a raffle draw.
People’s Bank of China currency report now includes digital yuan
Including digital yuan data in the final report is a clear statement of intent by the PBoC to move with a full-scale launch of the CBDC.
In China, cities start piloting e-CNY payment in public transport systems
China's CBDC adoption is moving ahead as planned, with several cities testing a new electronic payment method that lets users pay for their transport fares using digital yuan.
China: Bank testing e-CNY smart contract-enabled school fee payment in Sichuan
The product is coming first to the city of Chengdu and will be developed by the Digital Research Institute, the Chengdu Longquanyi District Education Bureau and Tianfutong Financial Services.
Chinese municipal bank issues first digital yuan loan holding IP as collateral
The Rural Commerce Bank of Zhangjiagang, located in China's Suzhou province, has issued the first-ever digital yuan loan backed by intellectual property as collateral.
PBoC to onboard more provinces and cities to China’s CBDC platform
Lan Zhou noted that the CBDC had an impressive level of adoption across the test sites—citing that as of May, Chinese consumers had done a cumulative 264 million transactions amounting.
Shenzhen gives away free 30M digital yuan to attract consumer spending
The airdrop is a joint effort with Meituan Dianping, one of China's leading food delivery apps, according to a statement from Shenzhen authorities.
US senators propose to bar apps supporting digital yuan payments from app stores
U.S. senators have proposed a bill that will prohibit application stores like Google and Apple from hosting apps supporting digital yuan as a payment method.