The framework is expected to allow China and Thailand to carry out international trade in the Chinese yuan or the Thai baht rather than the U.S. dollar.
Hong Kong has become the first destination beyond mainland China to allow residents to open digital yuan wallets and make payments at local merchant stores.
The People’s Bank of China—the country's central bank—and its Digital Currency Research Institute have published a guide for foreign tourists seeking to use its central bank digital currency.
The Monetary Authority of Singapore and People's Bank of China have signed the MOU to allow Chinese and Singaporean tourists to utilize cross-border payments with digital currencies in both countries.
The future of CBDC transactions is on the horizon as more banks onboard China's digital yuan pilot, exploring various use cases that aim to improve the payments industry and cross-border transactions.
China's digital yuan rollout prompts concerns among point-of-sale manufacturers about potential earnings decline, leading the PBoC to explore incentives for CBDC compatibility amid market challenges.
Chinese banks form global digital currency partnerships to boost CBDC adoption amid regulatory challenges and international economic concerns.
mBridge previously relied on a customized network developed by four central banks, but it’s now deployed on the Dashing Protocol developed by PBoC.
As the costs of using any technology drop, it becomes easier for criminals to abuse it; just look at crypto and stablecoins, says ex-PBoC’s Zhou Xiaochuan.
China boosts CBDC for tourist adoption focusing on Hong Kong residents, new features enable seamless Faster Payment System top-ups, advancing cross-border digital yuan functionality.
The new update will allow users of the digital yuan app to top-up via Mastercard and Visa payment options as People’s Bank of China seeks to position the CBDC to compete with other payment platforms in the country.
As digital renminbi uses the latest network and mobile payment technology, the director of the Digital Currency Research Institute of the PBoC Mu Changchun eyes using it for all retail transactions.
