Search Results for "digital yuan launch"
Suzhou Next City in China to Test Digital Yuan DCEP in Red Envelope Event
China’s central bank is scheduled to test its digital yuan dubbed the Digital Currency Electronic Payment (DCEP) in a second red packet lottery event in Suzhou on December 12.
Facebook’s Libra Launch Will Be Halted Until Proper Regulations Are Set, According to G7 Draft
A G7 statement showed that the financial leaders of the world’s seven largest economies will oppose the launch of Libra.
Tether Plans to Issue Stablecoin Backed by Chinese Yuan
Tether has been reportedly working on a new stablecoin pegged to the Chinese Yuan. The stablecoin project named “CNHT” came from the intention of Zhao Dong, one of the shareholders of the Bitfinex crypto exchange.
China to Award DCEP Worth $1.5 Million to Shenzhen Residents to Test Digital Yuan
China’s central bank, the People's Bank of China (PBOC), has teamed up with Shenzhen city to distribute DCEP worth 10 million yuan, approximately $1.5 million to residents.
Jamaica to Launch Central Bank Digital Currency in 2022
Jamaica’s Minister of Finance Nigel Clarke has announced that the country intends to launch its central bank digital currency (CBDC) in 2022.
Whatsapp is Close to Launching Digital Payments in Indonesia
Whatsapp, the Facebook-owned messaging platform has been engaging in preliminary talks with multiple Fintech establishments to launch digital payments in Indonesia.
Cambodia Officially Launches Its State-Backed Digital Currency “Bakong”
The National Bank of Cambodia has announced an official launch of a national digital currency that would operate via smartphone apps.
China’s Digital Yuan Launch Could Threaten Macau’s Gambling Industry
Gambling businesses in Macau fear that the launch of digital yuan would render them obsolete.
Facebook’s Libra Encouraged to Exclude the Chinese Yuan Being Tied to the Stablecoin
While Facebook is facing regulatory approvals for its Libra project, Facebook told US senators that the initial group of currencies that Libra will be likely backed by the US dollar, Euro, Yen, British Pound, and the Singapore dollar.
China to Launch Its Own Digital Currency Later This Year
In order to remain ahead in the global competition, China plans to launch its own digital currency known as Digital Currency Electronic Payment (DCEP). The digital currency will stimulate daily banking activities like deposits, payments, and withdrawals from the digital wallet. Crypto news website Coin Journal shows that the People’s Bank of China, China’s central bank has initiated the efforts to roll out its very own digital currency. It is an effort aimed at staying ahead among all the central banks worldwide as well as preserving financial sovereignty.
Alipay and WeChat Pay Could Be Casualties of China's Digital Yuan
Still strategizing to curb the dominance of Alipay and WeChat Pay, the People’s Bank of China will be using its DCEP system to break the cashless payment duopoly.
Major China Bank Disables Digital Yuan Wallet Registration After Launch Draws Intense Public Attention
China Construction Bank (CCB) opened registration service for the DCEP wallet via its mobile app but disabled the new feature shortly after.