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Digital CNY to grow retail payments and prevent USD dominance

News | Cryptocurrencies | 30 Oct 2020

A former governor of the China-based central bank has addressed the sovereign digital currency issue, the digital CNY being designed to grow retail payments at home and prevent USD dominance.

China, digital yuan, digital CNY, retail payments, stable coins, digital currency, Bank of China, DCEP, electronic payment

Major Chinese cities announce testing of Central Bank Digital Currency

News | Cryptocurrencies | 21 Aug 2020

Chinese Central Bank Digital Currency (CBDC) will soon be tested in ‘Guangdong-Hong Kong-Macao Greater Bay Area, Beijing-Tianjin-Hebei region, and Yangtze River Delta region’ according to China’s Ministry of Commerce.

central bank digital currency, CBDC, China, digital yuan, Bank of China, China Construction Bank, Industrial and Commercial Bank of China, Agricultural Bank of China, digital wallet app, accounts, money, payments , money transfer

ZA bank, a Hong Kong-based online-only bank, starts operating

News | Online & Mobile Banking | 24 Mar 2020

ZA bank, a Hong Kong-based online-only bank, has begun operating. 

Hong Kong, online banks, banking licences, Ant Financial, Standard Chartered, Tencent, HSBC, Bank of China, virtual banking

Bank of China to enable payments in yuan on US ecommerce platforms

News | Online Payments | 15 Jan 2019

Bank of China’s New York branch will enable Chinese companies to receive payments in yuan for their sales on the US ecommerce platforms.

Bank of China, payments , US, ecommerce platform, ecommerce, e-MPay, cross-border payments

Chinese banks get access to new CBA blockchain trade finance platform

News | E-invoicing, SCF & E-procurement | 07 Jan 2019

The China Banking Association has announced launching a new blockchain-based platform for trade finance.

The China Banking Association, blockchain-based platform, trade finance, HSBC (China), Bank of China, China Merchants Bank, Ping An Bank, China Postal Savings Bank

Goldman, Morgan Stanley go live with CLS IBM-powered blockchain

News | E-invoicing, SCF & E-procurement | 29 Nov 2018

CLS, the bank-owned currency trading utility, and IBM have gone live with their blockchain-based payment netting service.

Goldman Sachs, Morgan Stanley, CLS, IBM Blockchain, partnership, World, North America, Europe, Australia, trade finance, IBM-powered blockchain trade finance, payment versus payment, forex market, Bank of China

Bank of China, China UnionPay to explore blockchain for payment systems

News | Online Payments | 20 Aug 2018

Bank of China (BOC) and China UnionPay (CUP) have signed an agreement to explore blockchain technology applications for payment system development.

Bank of China, China UnionPay, blockchain, payments

UnionPay rolls out QR code payments in Canada

News | Payments General | 28 Jun 2018

UnionPay International has partnered with Bank of China`s Canadian subsidiary to launch its QR code payment service in the country.

UnionPay, QR code payments, Canada, North America, card, Bank of China, mobile payments