Digital Yuan

State-Backed Agricultural Bank of China Launches the First Digital Yuan ATMs

<div class=”featured_image_container”> </div> <strong>The Agricultural Bank of China (ABC), one of China’s “big four” banks, is embarking on a pilot program to enable the first digital yuan ATMs. The banking institution deployed the first machines in selected branches in Shenzhen.</strong> ATMs Will Work With a Smartphone App According to SZ News, the program is part …

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The EURST Stablecoin Set the Path That Major Central Banks Now Want to Follow

<div class=”featured_image_container”> </div> <b>From Asia to Europe, major central banks all around the world are expected to announce their own digital currencies soon. This is vindication that stablecoins like EURST are on the right path forward, and they can serve to show how national economies should reinvent themselves following the current crisis.</b> Why Everyone Wants …

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You can now spend China’s digital currency at an online store

Kevin Frayer/Getty Images China’s official digital currency is now usable in a meaningful way… more or less. Reuters reports that JD.com now accepts digital yuan for some purchases at its site, making it the first online platform to take the virtual money. You’ll need to have received the currency as part of a lottery-style experimental …

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China Airdrops Digital Yuan Worth $3 Million — 10,000 Stores Will Accept It

<div class=”featured_image_container”> </div> <strong>Twenty million yuan ($3 million) in China’s central bank digital currency will be given away to 100,000 people in the country’s largest test of the digital yuan to date. The digital currency will be accepted at 100,000 stores, including JD.com, one of China’s largest online retailers.</strong> $3 Million in Digital Yuan Giveaway …

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Hong Kong in Talks With PBOC on Digital Yuan Trial for Cross-Border Payments

Hong Kong Monetary Authority (HKMA), the city’s central banking institution, said it is working with the People’s Bank of China (PBOC) to test digital yuan use cases.  PBOC’s Digital Currency Institute and the HKMA are discussing the technical pilot testing of using e-CNY for making cross-border payments while making the corresponding technical preparations, Eddie Yue, …

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Hedge Fund Manager Brian Kelly Says Increasing Institutional Interest in Bitcoin Down to its Fixed Supply

<div class=”featured_image_container”> </div> <div class=”td-a-rec td-a-rec-id-content_top “><a data-bid=”1″ href=”https://news.bitcoin.com/linkout/387428″ rel=”nofollow noopener noreferrer” target=”_blank”><img loading=”lazy” src=”https://scoreit.online/wp-content/uploads/2020/11/bitcoin-exchange-banner-3.png” alt width=”728″ height=”90″></a></div><strong>Hedge fund manager Brian Kelly says the surging number of institutional investors owning bitcoin is down to the digital currency’s core value proposition- a fixed coin supply. On the other hand, the same institutional investor interest is helping …

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Beijing Municipal Government Conference Notes Plans to Pilot CBDC in China’s Capital

Two Beijing-area regional bodies – the Beijing Local Financial Supervision and Administration and the Tongzhou District government – held a conference Monday that made note of the People’s Bank of China (PBoC) Digital Currency Research Institute’s plan to build a legal digital currency test zone and digital financial system in China’s capital as part of …

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PBoC Governor Says ‘Successful’ Digital Yuan Trials Have Transacted $299M

The governor of the People’s Bank of China praised recent tests of its national digital currency at the Hong Kong Fintech Week conference on Monday. Over 4 million transactions totaling more than 2 billion yuan ($299 million) have been conducted using the digital yuan, Yi said. Financial services in remote areas have been bolstered by …

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China held a $1.5 million lottery to test a new digital currency

Prisma by Dukas via Getty Images China is taking its digital currency tests to a new level by giving away more than 10 million yuan ($1.5 million) in a new lottery (via CNBC). The state-run People’s Bank of China gave 50,000 randomly selected citizens a “red packet” worth 200 yuan ($30), to spend at several …

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