The investment arm of major cryptocurrency exchange KuCoin is moving to support new stablecoin initiatives by backing a Chinese yuan-pegged stablecoin issuer. KuCoin Ventures has led a $10 million inv...
Tag: Yuan
KuCoin Has Closed a $10M Funding Round Into CNHC. But Is the Offshore Yuan Right for a Stablecoin?
“This investment in CNHC is part of KuCoin Ventures’ broader strategy of investing in the Web3 infrastructure in the APAC region,” Justin Chou, chief investment officer of KuCoin and lead at KuC...
WeChat Incorporates Digital Yuan Payment Functionality to Bolster Appeal
Chinese super app WeChat is the second multipurpose social media platform in the country, after Alipay, to integrate digital yuan payments. WeChat has integrated the digital yuan into its platform to ...
Chinese Platform WeChat Incorporates Digital Yuan in Payments App
7 seconds ago | 2 mins read Altcoin News After Alipay, WeChat is now the second payment platform to implement this feature. Users may send digital yuan to one another through WeChat and also pay at st...
WeChat Adds Digital Yuan Payment Functionality
WeChat, China’s leading social networking and payment app, has now integrated the country’s central bank digital currency, the digital yuan, into its payment services, according to local r...
WeChat Integrates Digital Yuan To Bolster Payments
WeChat, a popular app in China, has integrated the digital Yuan into the platform. The aim is to make payments faster and seamless for the app users. Apart from WeChat, another payment app in China, A...
WeChat integrates digital yuan into its payment platform
WeChat, China’s leading social networking and payment app, has added the country’s central bank digital currency (CBDC), to its payment services, according to reports in local media. The move aims to ...
China’s WeChat adds support for digital yuan payments
WeChat has joined the growing list of Chinese platforms supporting the country’s central bank digital currency (CBDC), the digital yuan (e-CNY). The move is expected to boost digital yan adoption in t...
WeChat Pay Integrates Digital Yuan App for Faster Payments
Popular Chinese app WeChat Pay has integrated the digital yuan app for faster payments. The integration should help boost the adoption of the central bank digital currency (CBDC). WeChat Pay, a popula...
Hong Kong citizens reject the digital yuan – Here is why – Cryptopolitan
The Chinese government’s project of central bank digital currency (CBDC), the “digital yuan,” has been met with low demand and disinterest from Hong Kong citizens. Low demand for digital yuan hard wal...
China Doles Out Free Digital Yuan During New Year To Boost Adoption
Join Our Telegram channel to stay up to date on breaking news coverage Chinese cities have announced the launch of various digital yuan initiatives worth more than 180 million yuan ($26.6 million) to ...
Chinese Cities Introduce Digital Yuan Payments During the Spring Festival (Report)
Major Chinese cities, including Shenzhen, Jinan, and Lianyungang, have reportedly launched approximately 200 activities involving the digital yuan during the Spring Festival. The authorities aim to b...
Digital Yuan Gifts In China During Holiday To Increase Adoption, Report Says
Recent events in China indicate the country’s paradigm shift concerning digital currency. The digital yuan (e-CNY) is gradually forming a significant part of the Chinese currency through its rapid dev...
China Promotes CBDC Through Millions of Digital Yuan Giveaway
2 hours ago | 2 mins read Editors News Over $26.5 million (or 180 million yuan) in CBDC was apparently distributed. Citizens in Hangzhou spent the e-CNY distributed in only 9 seconds. Over the Lunar N...
Chinese cities gives away $26.6M in Digital Yuan to drive adoption
Multiple Chinese cities have reportedly launched initiatives to give away digital yuan (e-CNY) worth over $26.6 million to drive consumption during the Spring Festival. Authorities across China have d...
China gives away digital Yuan (e-CNY) worth million to boost adoption
Chinese cities have launched digital yuan (e-CNY) activities worth over $26.6 million (180 million yuan) to promote its adoption. During the Spring Festival, nearly 200 digital yuan activities were la...
China doles out millions in digital yuan in bid to boost adoption: Report
Millions of dollars worth of China’s central bank digital currency (CBDC) has been handed out across the country over the Lunar New Year period in a bid to boost its takeup. According to a Feb. 6 repo...
Chinese city targets $300 billion in digital yuan transactions in 2023
The Chinese city of Suzhou has unveiled a new plan to promote the digital yuan (e-CNY) adoption seeking to transact about $297 billion worth of the central bank’s currency in 2023. The city authoriti...
Local Officials Set Ambitious Targets for Digital Yuan Transactions
Local news site JS China reports that top Communist Party officials were present in the City of Suzhou on February 1 for an annual conference discussing the testing of the digital yuan central bank di...
China’s Changsha Claims Over 300,000 Merchants Accepted Digital Yuan
Changsha said that its residents have processed over 53.25 million digital yuan transactions. Changsha was introduced to the digital yuan pilot program in April 2021. The pilot trial was introduced to...
PBoC Launches Digital Yuan Smart Contract Functionality on E-Commerce App Meituan
The Chinese central bank has launched smart contract functionality for its digital yuan amid new use cases. China recently launched smart contract functionality on its digital yuan via one of its prom...
China’s digital yuan gets smart contract functionality alongside new use cases
China’s central bank digital currency (CBDC) — the digital yuan, or eCNY — has received upgrades giving it smart contract functionality alongside a series of newly unveiled use cases. The smart contra...
CBDCs permeate China as Yuan used to buy securities for the first time
For the first time, the digital yuan (e-CNY), a token issued by the Bank of China, has been used to purchase securities. The country put the e-CNY into circulation last week. China has advanced furthe...
China Counts CBDC in Monetary Base Supply for First Time
For the first time ever, the People’s Bank of China (PBOC) has included its central bank digital currency (CBDC) in official cash reports. China’s digital yuan, otherwise known as e-CNY, amounted to 1...
Digital Yuan Pilot on Course Despite Claims of Low Usage
The People’s Bank of China assured the public that the digital yuan (renminbi) pilot is running steadily. The CBDC is currently expanding its pilot areas and undergoing more developments. The People’s...
China’s Digital Yuan Little Used, Former Central Bank Official Says – Finance Bitcoin News
Trials of the digital yuan have produced disappointing results, according to a report quoting the former head of research at the Chinese central bank. The new form of national fiat has brought no bene...
Chinese Digital Yuan Usage Needed to be Widened, Says Former PBOC Official
Recently a former official of a Chinese financial institution reported to highlight the current situation of the central bank digital currency (CBDC) in the country. He said the ‘digital currency is l...
Former Chinese central banker says digital yuan ‘usage has been low’
A former official of the People’s Bank of China (PBOC), the country’s central bank, has expressed disappointment that China’s digital yuan is seeing little use. Xie Ping, a former PBOC research direct...