The use of the digital yuan continues to expand in various sectors of China, including hospitals now. A few hospitals in Hangzhou and Guangzhou have also started to accept digital yuan for...
Tag: Yuan
Digital yuan gets green light on buses, trains in Xiamen
China’s digital yuan is now accepted on Guangzhou city trams Next, it’ll allow passengers to pay fares using a digital yuan payment QR code Total transactions using e-CNY reached 87.565 billion yuan ...
Digital Yuan Rolled out on Transport Networks in Major Cities
China’s central bank digital currency (CBDC), or digital yuan, is seeing its adoption grow by the day, most recently in the transportation sector of Xiamen and Guangzhou. According to local news outle...
USD/CNY forecast as the Chinese yuan meltdown continues
The Chinese yuan is going through its worst devaluation since 2018 as signs of economic slowdown emerge. The USD/CNY has risen in the past five straight weeks and is currently trading at the highest l...
China Calls Out U.S. Dollar Dominance As It Buys Russian Coal With Yuan
The first shipments of Russian coal and crude oil, paid for in yuan, will arrive in China in April and May, respectively. Chinese state media used the opportunity to denigrate the United States, claim...
Chinese Citizens Get Virtual Yuan As Part Of The CBDC Tests
The Chinese government issued 10 million digital Yuan to Shenzhen residents in October 2020. The red packets might have been used in fewer than 5,000 retailers in that promotion, yet they were used in...
China Distributes $2.3 Million Worth of Digital Yuan to Shenzhen Citizens: Report
The Chinese authorities will reportedly give away 15 million yuan ($2.3 million) in e-CNY to the residents of Shenzhen’s Futian district. The move aims to boost the adoption of China’s CBDC and promot...
As A Part Of CBDC Testing Chinese Residents Receive Digital Yuan
Shenzhen residents are all set to receive digital Yuan worth $2.29 million as part of the Central Bank Digital Currency (CBDC) testing. The Chinese government will be giving these 15 million Yuan in C...
The Digital Yuan project is on track
The project for a new digital Yuan is proceeding apace, expanding testing to other cities in China. China’s CBDC, also known as the Digital Yuan China continues the tests on the digital Yuan in order ...
China’s residents to receive 15 million in digital yuan as part of government’s CBDC giveaway
The People’s Bank of China (PBOC), China’s central bank, is continuing to test its central bank digital currency (CBDC) with yet another digital yuan giveaway. The government of Shenzhen’s Futian dis...
Shenzhen Residents to Receive 15 Million Yuan in Digital Currency – Featured Bitcoin News
The Chinese government is giving away 15 million yuan in central bank digital currency (CBDC) to 130,000 residents of Shenzhen this Friday. The digital yuan can be used at nearly 5,000 stores with no ...
Central bank tries to slow weakening yuan vs US dollar
The Chinese yuan has weakened sharply against the U.S. dollar in the last several weeks as the greenback strengthens and investors worry about China’s economic growth. Fotoholica Press | Lightro...
Digital Yuan To be Displayed Asian Games During Hangzhou Races
China is bracing itself to exhibit capabilities of digital yuan at Asian Games and has kept it as a priority from April to August. Hangzhou is involved in the cluster of cities named in early April fo...
Chinese stocks and yuan fall as Beijing braces for Shanghai-like lockdown
Mainland Chinese indexes turned red and led the drop-off, as Asian markets fell sharply on Monday, April 25. The Shenzen Component Index fell 6.08% to 10,379.28, while the Shanghai Composite Index dec...
China Lockdown Fears Rip Through Markets as Stocks, Yuan Tumble
(Bloomberg) — Fears about the economic toll of China’s strict Covid Zero policy intensified Monday, as news that lockdowns were spreading to Beijing sent stocks, commodities and the yuan tumblin...
Israel Adds Yuan to $206 Billion Reserves in ‘Philosophy’ Change
(Bloomberg) — Sign up for our Middle East newsletter and follow us @middleeast for news on the region. Most Read from Bloomberg Israel’s central bank has made the biggest changes to its allocati...
Tencent Nears Launch of Digital Yuan Wallet-WeChat Integration
Tencent, China’s leading tech company has dropped a sneak peek of its new Digital Yuan wallet that it plans to launch as part of the WeChat ecosystem. With over 1.2 billion monthly active users, WeCha...
China’s WeChat joins the digital yuan pilot program
TL; DR Breakdown China WeChat joins the Digital Yuan pilot program High court outlaws cryptocurrency transactions as unlawful monetary services According to an announcement published on April 7, WeCha...
WeChat Adds Support to Digital Yuan Payments (Report)
China’s messaging app giant – WeChat – reportedly enabled digital yuan settlements on its platform. The service is available in all of the 23 regions where the financial product is being trialed, incl...
China’s Central Bank Adds More Digital Yuan Pilot Cities – Altcoins Bitcoin News
China’s central bank, the People’s Bank of China, has added more cities to test its digital currency. According to the latest official data, the digital yuan has more than 261 million users. PBOC Adds...
People’s Bank of China Includes 11 More Cities in Digital Yuan Pilot Program
The People’s Bank of China has announced that its digital yuan pilot program will support 11 more cities. Residents in some of these cities have already begun to have access to digital yuan wallets. C...
Is the yuan a buy or sell as China economy slows?
The USD/CNY price tilted upwards for the fifth straight day as concerns about the Chinese economy escalated. The pair rose to a high of 6.35, which was substantially higher than the year-to-date low o...
Central Bank Facilitate Support to Asian Games Host: Enhanced Growth of the Digital Yuan Pilots
People’s Bank of China and four state departments have confirmed their support for bidding regions in Zhejiang to further see to the Digital Yuan pilots. Zhejiang province’s financial development pla...
COVID restrictions stymie digital yuan rollout at Beijing Winter Olympics
Athletes and support staff at the Beijing Olympics have the option of using digital currency for payments Limiting the number of spectators may result in fewer people testing the digital yuan as a met...
China’s Digital Yuan Could Challenge the USD’s Dominance, CNBC Expert Says
Richard Turrin – Financial Technology Consultant at CNBC – argued that the Chinese central bank digital currency could challenge the dominance of the American dollar this decade. Specifically, he beli...