Search Results for "people’s bank of china"
Bank of Thailand Tests its Central Bank Digital Currency with Large Businesses Before Official Debut
The Bank of Thailand (BoT), Thai’s central bank, is already utilizing its central bank digital currency (CBDC) for financial transactions with various big businesses. This development ushers in the third development phase of the nation’s CBDC before a public debut.
People’s Bank of China Announces Its Digital Currency is Ready
The central bank of China has announced that its digital currency can now be said to be ready. Speaking in a major event, the China forum as reported by local news site Shanghai Securities News on August 10, the deputy director of the people’s Bank of China (PBoC) Mu Changchun stated that over five years of rigorous research work has been put into creating a prototype that adopts the Blockchain architecture
Singapore Consults China on Central Bank Digital Currency
Singapore is considering a partnership with China as it works on developing a Central Bank Digital Currency dubbed Project Ubin
China's DCEP Testing Limited to Small Retail Transactions for Now
The People’s Bank of China (PBOC) has affirmed that the testing of its CBDC project is concentrated only to small scale transactions for now.
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.
Crypto Leaders Discuss Libra, China's CBDC and a Cashless Future at the Singapore Fintech Festival
A noteworthy panel followed on the topic of “defining the future of digital currency,” joined by Christian Catalini, co-creator of Libra and Head Economist of Calibra, Mu Changchun, Director-General of the Digital Currency Institute of the People’s Bank of China, HE Serey Chea, from the National Bank of Cambodia and Umar Farooq, Head of Blockchain at J.P. Morgan Chase & Co.
Central Bank Official: Blockchain Application Ideal for Chinese Commercial Banks
Li Wei, the Technology Departmental Head of the People’s Bank of China, has urged Chinese commercial banks to embrace blockchain and digital finance.
China’s Central Bank Takes A Step Forward to Regulate Blockchain
China’s central bank, the People’s Bank of China is set to create industry standards across the financial technologies sector, including blockchain.
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.
China's Antitrust Agency Urged By the PBOC to Probe Alipay and WeChat Pay
In a move similar to the US antitrust hearing, the People’s Bank of China has prompted the nations top antitrust body to probe Alipay and WeChat
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.
China’s Central Bank Official Urges the Acceleration of Digitization of the Chinese Economy with Blockchain
China’s central bank, the People’s Bank of China (PBoC) Financial Technology Committee held its first meeting of the year this week, after months of delay due to the coronavirus pandemic. Fan Yifei, the PBoC’s deputy governor echoed President Xi Jinping’s call for the acceleration of the country’s blockchain development adoption. The president pointed out that it is necessary to strengthen fundamental research of blockchain technology and enhance innovation, enabling China to take a leading position in the blockchain field. The bank’s deputy governor met with the central bank’s officials as well as the heads of their affiliated financial institutions. Fan emphasized the importance of blockchain and financial technology (FinTech) industries and wanted to ensure China’s adoption plan would be laid out and implemented by 2021 to be in line with the deadline they have set out.