Food delivery service giant Meituan Dianping will test China’s digital yuan, according to a Bloomberg report citing unnamed sources who have knowledge of the matter. The Tencent-backed tech company joins ride-hailing company Didi Chuxing, which announced last week that it would assist the People’s Bank...
Digital yuan could be on the horizon in China to replace paper money, authorities say. According to a report, the launch of the digital currency is likely to happen soon, and it could become prominent if four key components are met, per the former Bank...
The People’s Bank of China (PBOC) is launching a pilot program to trial its new digital currency yuan with 19 local businesses, including the U.S. chains Starbucks, Subway and McDonald’s. The digital currency trial is being held in Xiong’an New Area, a city being built...
HSBC has issued its first yuan blockchain-based letter of credit transaction, Reuters reported. The move is significant progress in the use of the Voltron trade finance platform, which was developed by eight banks, including HSBC, BNP Paribas and Standard Chartered. While the platform has predominately...
October 12, 2020
China’s central bank is issuing 10 million yuan ($1.5 million) worth of digital currency to 50,000 people chosen by lottery in the country’s first trial run of a cashless payments system, according to numerous reports on Monday (Oct. 12). Nearly 2 million people applied to the Shenzhen drawing. The winners were chosen at random and announced […]
July 15, 2020
Food delivery service giant Meituan Dianping will test China’s digital yuan, according to a Bloomberg report citing unnamed sources who have knowledge of the matter. The Tencent-backed tech company joins...
May 06, 2020
Digital yuan could be on the horizon in China to replace paper money, authorities say. According to a report, the launch of the digital currency is likely to happen soon,...
April 24, 2020
The People’s Bank of China (PBOC) is launching a pilot program to trial its new digital currency yuan with 19 local businesses, including the U.S. chains Starbucks, Subway and McDonald’s....
