The People’s Bank of China has reportedly enabled Android users to make offline payments using digital yuan. With a new function added to the bank’s digital yuan app, users can make payments from their smartphone using the central bank digital currency (CBDC) even if the...
Central banks around the world have diverged in the design of CBDCs. As the investigation phase of the European Central Bank’s (ECB) digital euro project moves into technical considerations, the question of which path it will follow arises. Will the digital euro look like China’s...
In a video address as part of a high-level conference on the digital euro earlier this month, the president of the European Central Bank (ECB), Christine Lagarde, announced that the central bank digital currency (CBDC) project had received “strong political backing,” a year after kicking...
Chinese citizens have spent more than $14 billion worth of digital yuan, the People’s Bank of China said last week. That represented 360 million transactions made at some 5.6 million merchants in 15 provinces who now support the central bank digital currency (CBDC), formally called...
January 16, 2023
The People’s Bank of China has reportedly enabled Android users to make offline payments using digital yuan. With a new function added to the bank’s digital yuan app, users can make payments from their smartphone using the central bank digital currency (CBDC) even if the device has no power or no internet connection, NFCW reported […]
May 26, 2022
Republican U.S. lawmakers want to ban app stores from hosting apps that let payments be made with the Chinese digital currency, Reuters reported Thursday (May 26), citing a proposal for...
April 03, 2022
The Peoples’ Bank of China plans to expand its trial for digital yuan to include more cities, a report Saturday (April 3) from Bloomberg said. This comes because the market...
January 18, 2022
China’s digital yuan trials captured $8.3 billion of the country’s payments market in the past six months and $13.68 billion in the past two years, just a sliver of the...
